NU (NYSE:NU) Shares Down 2.3% – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU)’s stock price traded down 2.3% during mid-day trading on Tuesday . The stock traded as low as $10.39 and last traded at $10.41. 7,599,203 shares traded hands during trading, a decline of 78% from the average session volume of 33,819,602 shares. The stock had previously closed at $10.65.

Wall Street Analysts Forecast Growth

NU has been the topic of a number of recent analyst reports. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $14.60 to $11.00 in a research report on Monday, December 2nd. The Goldman Sachs Group increased 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. KeyCorp increased their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Finally, Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the stock a “positive” 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.63.

NU Stock Down 2.7 %

The stock has a 50 day moving average price of $13.00 and a 200-day moving average price of $13.26. The stock has a market capitalization of $49.38 billion, a P/E ratio of 28.78, 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 Trading of NU

A number of institutional investors have recently modified their holdings of NU. Fisher Asset Management LLC purchased a new stake in NU in the third quarter worth about $98,704,000. Thrivent Financial for Lutherans lifted its holdings in NU by 23.2% in 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 lifted its holdings 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 valued at $65,784,000 after purchasing an additional 259,324 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its holdings in shares of NU by 20.0% during the third quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings 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 valued at $17,819,000 after purchasing an additional 76,009 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

NU Company Profile

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.