NU (NYSE:NU) Shares Down 1.7% – Here’s Why

Shares of Nu Holdings Ltd. (NYSE:NU) traded down 1.7% during mid-day trading on Tuesday . The company traded as low as $11.76 and last traded at $11.80. 17,222,831 shares were traded during mid-day trading, a decline of 48% from the average session volume of 33,152,590 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $14.60 to $11.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Susquehanna boosted their target price on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Barclays upped their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Itau BBA Securities lowered shares of NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, NU presently has an average rating of “Hold” and an average target price of $15.63.

NU Price Performance

The stock’s 50 day moving average is $14.16 and its two-hundred day moving average is $13.37. 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 stock has a market capitalization of $57.19 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.99.

Institutional Investors Weigh In On NU

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NU. Fisher Asset Management LLC purchased a new stake in NU during the 3rd quarter worth approximately $98,704,000. Thrivent Financial for Lutherans increased its stake in shares of NU by 23.2% during the third quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after buying an additional 48,445 shares during the period. Adero Partners LLC increased its stake in shares of NU by 5.7% during the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock worth $65,784,000 after buying an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC increased its holdings in shares of NU by 20.0% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after acquiring an additional 50,000 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in NU in the third quarter valued at approximately $15,829,000. Hedge funds and other institutional investors own 80.90% 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.