NU (NYSE:NU) Shares Down 7.3% – What’s Next?

Nu Holdings Ltd. (NYSE:NU)’s share price traded down 7.3% on Friday . The company traded as low as $12.37 and last traded at $12.54. 25,227,799 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 32,812,328 shares. The stock had previously closed at $13.53.

Analysts Set New Price Targets

A number of equities research analysts have recently commented 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 note on Monday, August 19th. KeyCorp upped their target price 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 upped their target price on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays lifted their price objective on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, NU currently has an average rating of “Moderate Buy” and a consensus target price of $16.21.

NU Stock Down 7.6 %

The business’s fifty day moving average is $14.35 and its two-hundred day moving average is $13.34. The stock has a market cap of $59.57 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 0.66 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20.

Institutional Trading of NU

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in NU by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,060,504 shares of the company’s stock valued at $74,288,000 after buying an additional 271,903 shares during the last quarter. Tidal Investments LLC increased its stake in NU by 25.1% in the third quarter. Tidal Investments LLC now owns 2,312,956 shares of the company’s stock valued at $31,572,000 after purchasing an additional 463,866 shares during the period. Blankinship & Foster LLC acquired a new stake in shares of NU during the third quarter worth about $3,212,000. Wilmington Savings Fund Society FSB purchased a new position in shares of NU during the third quarter worth about $148,000. Finally, Morse Asset Management Inc raised its stake in NU by 71.1% during the 3rd quarter. Morse Asset Management Inc now owns 58,786 shares of the company’s stock valued at $802,000 after acquiring an additional 24,436 shares during the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

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.