NU (NYSE:NU) Stock Price Up 1.4% – Here’s Why

Nu Holdings Ltd. (NYSE:NU)’s stock price shot up 1.4% on Wednesday . The company traded as high as $11.95 and last traded at $11.92. 5,342,318 shares were traded during trading, a decline of 84% from the average session volume of 33,292,000 shares. The stock had previously closed at $11.76.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Susquehanna upped their target price on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Barclays increased their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.63.

NU Price Performance

The company has a 50 day moving average price of $13.93 and a 200 day moving average price of $13.36. The company has a market capitalization of $56.91 billion, a P/E ratio of 33.47, a P/E/G ratio of 0.61 and a beta of 0.99. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC bought a new position in shares of NU during the third quarter worth approximately $98,704,000. Thrivent Financial for Lutherans grew its holdings in 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 increased its position in NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock worth $65,784,000 after buying an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC grew its stake 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 acquiring an additional 50,000 shares in the last quarter. 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 acquiring an additional 76,009 shares during the period. 84.02% 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.