NU (NYSE:NU) Shares Down 3.4% - What's Next?

Nu Holdings Ltd. (NYSE:NU - Get Free Report)'s stock price fell 3.4% during mid-day trading on Wednesday . The stock traded as low as $11.28 and last traded at $11.30. 15,120,070 shares were traded during mid-day trading, a decline of 55% from the average session volume of 33,359,566 shares. The stock had previously closed at $11.70.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NU shares. Bank of America lifted their price target on NU from $12.80 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. KeyCorp increased their price target on shares of NU from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price objective on NU from $17.00 to $19.00 and gave the company a "buy" rating in a 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 target on NU from $16.00 to $18.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $15.63.

NU Trading Down 11.1 %

The company has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $13.36. 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 company has a market cap of $49.57 billion, a PE ratio of 28.89, a P/E/G ratio of 0.59 and a beta of 0.99.

Institutional Investors Weigh In On NU

A number of hedge funds and other institutional investors have recently modified their holdings of NU. Fisher Asset Management LLC purchased a new stake in NU during the third quarter worth approximately $98,704,000. Thrivent Financial for Lutherans boosted its holdings in shares of NU by 23.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company's stock valued at $3,517,000 after buying an additional 48,445 shares in the last quarter. Adero Partners LLC grew its position in shares of NU by 5.7% in the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company's stock valued at $65,784,000 after buying an additional 259,324 shares during the last quarter. Summit Partners Public Asset Management LLC raised its stake in NU by 20.0% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company's stock worth $4,095,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in NU by 6.2% in 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 acquiring an additional 76,009 shares during the last quarter. 84.02% 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.