NU (NYSE:NU) Shares Up 0.5% – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU)’s share price was up 0.5% during mid-day trading on Friday . The stock traded as high as $12.14 and last traded at $12.05. Approximately 6,473,198 shares were traded during trading, a decline of 81% from the average daily volume of 33,272,563 shares. The stock had previously closed at $11.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. KeyCorp increased their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Susquehanna upped their target price on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $14.60 to $11.00 in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NU currently has a consensus rating of “Hold” and an average price target of $15.63.

NU Stock Performance

The company has a 50-day moving average of $13.90 and a 200-day moving average of $13.37. The firm has a market capitalization of $56.91 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 0.61 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.

Institutional Trading of NU

Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC bought a new stake in shares of NU during the 3rd quarter valued at about $98,704,000. Thrivent Financial for Lutherans grew its holdings 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 valued at $3,517,000 after purchasing an additional 48,445 shares during the last quarter. Adero Partners LLC raised its position in shares of NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock worth $65,784,000 after purchasing an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC lifted 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 worth $4,095,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in NU by 6.2% during the 3rd 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 period. 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.