NU (NYSE:NU) Shares Down 0.9% - Here's Why

Nu Holdings Ltd. (NYSE:NU - Get Free Report)'s share price dropped 0.9% during trading on Monday . The stock traded as low as $11.55 and last traded at $11.83. Approximately 6,534,179 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 33,225,621 shares. The stock had previously closed at $11.94.

Analysts Set New Price Targets

Several research firms have recently weighed in on NU. KeyCorp lifted their target price on shares of NU from $15.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Itau BBA Securities cut shares of 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 lowered their target price for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. The Goldman Sachs Group lifted their price target on NU from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Bank of America increased their price target on NU from $12.80 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, NU presently has an average rating of "Hold" and a consensus target price of $15.63.

NU Stock Down 1.8 %

The firm has a market cap of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 0.61 and a beta of 0.99. The business has a fifty day simple moving average of $13.87 and a 200 day simple moving average of $13.38. 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

Hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC purchased a new position in NU during the third quarter worth approximately $98,704,000. Thrivent Financial for Lutherans raised its holdings in shares of 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 during the period. Adero Partners LLC boosted 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 valued at $65,784,000 after acquiring an additional 259,324 shares during the last quarter. Summit Partners Public Asset Management LLC grew its holdings in shares of NU by 20.0% in 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 period. Finally, Royal London Asset Management Ltd. increased its position in 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 during the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

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.