NU (NYSE:NU) Shares Down 1.6% – Should You Sell?

Nu Holdings Ltd. (NYSE:NU)’s share price dropped 1.6% on Wednesday . The company traded as low as $13.60 and last traded at $13.71. Approximately 6,976,388 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 32,749,193 shares. The stock had previously closed at $13.94.

Analyst Ratings Changes

NU has been the subject of a number of research reports. Bank of America raised their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Itau BBA Securities lowered shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Susquehanna lifted their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.21.

NU Stock Down 2.9 %

The firm has a market capitalization of $64.48 billion, a P/E ratio of 37.58, a PEG ratio of 0.66 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44.

Institutional Investors Weigh In On NU

Several institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in NU by 13.0% in the 3rd quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after acquiring an additional 24,140,416 shares in the last quarter. Jennison Associates LLC lifted its position in NU by 7.1% during the 3rd quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock worth $1,320,705,000 after buying an additional 6,435,526 shares in the last quarter. State Street Corp lifted 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 buying an additional 40,560,986 shares in the last quarter. FMR LLC lifted its position in NU by 16.4% during the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company’s stock worth $843,596,000 after buying an additional 8,728,833 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in NU by 104.3% during the 3rd 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 in the last quarter. 80.90% of the stock is owned by institutional investors.

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.