NU (NYSE:NU) Stock Price Down 1.7% – Here’s What Happened

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

Analysts Set New Price Targets

NU has been the topic of a number of recent analyst reports. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Citigroup lowered shares of NU from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $14.60 to $11.00 in a research note on Monday. Bank of America increased their target price on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. KeyCorp increased their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, 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 research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.63.

NU Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The stock’s 50 day simple moving average is $14.28 and its two-hundred day simple moving average is $13.37. The stock has a market capitalization of $56.33 billion, a PE ratio of 32.78, a PEG ratio of 0.61 and a beta of 0.99.

Institutional Investors Weigh In On NU

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of NU by 105.9% in the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock valued at $1,076,509,000 after acquiring an additional 40,560,986 shares during the period. Baillie Gifford & Co. increased its stake in NU by 13.0% in the 3rd quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock worth $2,867,912,000 after purchasing an additional 24,140,416 shares during the period. Geode Capital Management LLC boosted its position in NU by 104.3% during the 3rd quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock valued at $442,935,000 after buying an additional 16,638,397 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NU by 458.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company’s stock valued at $193,111,000 after purchasing an additional 11,613,191 shares during the last quarter. Finally, FMR LLC increased its position in NU by 16.4% during the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company’s stock valued at $843,596,000 after purchasing an additional 8,728,833 shares during the period. 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.