NU (NYSE:NU) Trading Down 1% – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU) shares traded down 1% during trading on Friday . The company traded as low as $10.20 and last traded at $10.26. 9,734,276 shares were traded during mid-day trading, a decline of 71% from the average session volume of 33,819,328 shares. The stock had previously closed at $10.36.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. KeyCorp raised their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Citigroup lowered shares of NU from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $14.60 to $11.00 in a research report on Monday, December 2nd. Susquehanna increased their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group boosted their price objective on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.63.

NU Price Performance

The firm has a market cap of $48.90 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 0.59 and a beta of 0.99. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $13.33 and its two-hundred day simple moving average is $13.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of NU by 315.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,464 shares of the company’s stock worth $15,745,000 after acquiring an additional 876,039 shares during the last quarter. Franklin Resources Inc. raised its position in NU by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,060,504 shares of the company’s stock valued at $74,288,000 after buying an additional 271,903 shares during the last quarter. Tidal Investments LLC lifted its stake in NU by 25.1% during the 3rd quarter. Tidal Investments LLC now owns 2,312,956 shares of the company’s stock valued at $31,572,000 after acquiring an additional 463,866 shares in the last quarter. Blankinship & Foster LLC bought a new stake in NU in the 3rd quarter worth about $3,212,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of NU during the 3rd quarter worth $148,000. 84.02% of the stock is owned by institutional investors and hedge funds.

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.