NU (NYSE:NU) Stock Price Down 2.9% - What's Next?

Nu Holdings Ltd. (NYSE:NU - Get Free Report)'s share price was down 2.9% during mid-day trading on Thursday . The stock traded as low as $13.49 and last traded at $13.53. Approximately 31,092,908 shares traded hands during trading, a decline of 5% from the average daily volume of 32,858,809 shares. The stock had previously closed at $13.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NU shares. JPMorgan Chase & Co. increased their target price on NU from $14.50 to $15.00 and gave the company a "neutral" rating in a report on Monday, August 19th. Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Barclays boosted their target price on shares of NU from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. Bank of America upped their target price on shares of NU from $12.80 to $15.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Finally, KeyCorp lifted their price target on shares of NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.21.

NU Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market cap of $64.48 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13. The firm's 50-day moving average is $14.35 and its 200 day moving average is $13.34.

Institutional Investors Weigh In On NU

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in NU by 105.9% during the 3rd quarter. State Street Corp now owns 78,865,138 shares of the company's stock worth $1,076,509,000 after purchasing an additional 40,560,986 shares during the period. Baillie Gifford & Co. lifted its stake in shares of NU by 13.0% during the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company's stock worth $2,867,912,000 after purchasing an additional 24,140,416 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NU by 104.3% in the third quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company's stock worth $442,935,000 after buying an additional 16,638,397 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NU by 458.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company's stock valued at $193,111,000 after buying an additional 11,613,191 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of NU by 16.4% during the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company's stock valued at $843,596,000 after buying an additional 8,728,833 shares during the period. 80.90% of the stock is currently 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.