NU (NYSE:NU) Stock Price Down 0.3% – Here’s Why

Nu Holdings Ltd. (NYSE:NU)’s share price dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $11.55 and last traded at $11.70. Approximately 13,586,023 shares were traded during trading, a decline of 59% from the average daily volume of 33,242,055 shares. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

NU has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Susquehanna upped their price target on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $14.60 to $11.00 in a report on Monday, December 2nd. KeyCorp upped their price target on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Bank of America upped their price target on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.63.

NU Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The business has a 50 day simple moving average of $13.87 and a 200-day simple moving average of $13.38. The stock has a market cap of $55.90 billion, a P/E ratio of 32.50, a P/E/G ratio of 0.59 and a beta of 0.99.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in shares of NU during the 3rd quarter valued at $98,704,000. Thrivent Financial for Lutherans lifted its position in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock valued at $3,517,000 after buying an additional 48,445 shares during the last quarter. Adero Partners LLC lifted its position in shares of NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after buying an additional 259,324 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its holdings in NU by 20.0% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock worth $4,095,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in NU by 6.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock worth $17,819,000 after purchasing an additional 76,009 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.