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

Shares of Nu Holdings Ltd. (NYSE:NU) traded down 1.7% on Monday . The company traded as low as $10.18 and last traded at $10.20. 7,773,367 shares changed hands during trading, a decline of 77% from the average session volume of 33,900,473 shares. The stock had previously closed at $10.38.

Analysts Set New Price Targets

A number of analysts recently issued reports on NU shares. Susquehanna raised their price objective on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Bank of America lifted their price target on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Citigroup lowered shares of NU from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group upped their target price on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.63.

NU Trading Down 1.3 %

The company’s fifty day moving average is $13.65 and its 200-day moving average is $13.35. The stock has a market cap of $48.80 billion, a PE ratio of 28.44, a PEG ratio of 0.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44.

Institutional Investors Weigh In On NU

A number of institutional investors and hedge funds have recently made changes to their positions in NU. Fisher Asset Management LLC purchased a new stake in NU during the 3rd quarter worth about $98,704,000. Thrivent Financial for Lutherans grew its holdings in NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after acquiring an additional 48,445 shares in the last quarter. Adero Partners LLC raised its holdings in shares of NU by 5.7% in the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after purchasing an additional 259,324 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its position in shares of 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 during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of NU by 6.2% during the third 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. 84.02% of the stock is owned by hedge funds and other institutional investors.

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.