NU (NYSE:NU) Stock Price Up 0.1% – Here’s Why

Nu Holdings Ltd. (NYSE:NU) rose 0.1% during trading on Thursday . The company traded as high as $10.70 and last traded at $10.41. Approximately 23,694,403 shares traded hands during trading, a decline of 30% from the average daily volume of 33,642,242 shares. The stock had previously closed at $10.40.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NU. The Goldman Sachs Group boosted their price objective on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Citigroup lowered shares of NU from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $14.60 to $11.00 in a report on Monday, December 2nd. Bank of America upped their target price on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. KeyCorp boosted their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Susquehanna lifted their target price on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.63.

NU Trading Up 0.5 %

The company has a market cap of $49.47 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 0.59 and a beta of 0.99. The firm has a fifty day moving average price of $13.65 and a 200 day moving average price of $13.33. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in 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 during the period. Jennison Associates LLC grew its stake in NU by 7.1% in the 3rd quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock valued at $1,320,705,000 after buying an additional 6,435,526 shares during the last quarter. State Street Corp lifted its position in NU by 105.9% during the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock worth $1,076,509,000 after acquiring an additional 40,560,986 shares during the last quarter. FMR LLC boosted its holdings in shares of NU by 16.4% during the third quarter. FMR LLC now owns 61,801,891 shares of the company’s stock worth $843,596,000 after acquiring an additional 8,728,833 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of NU by 104.3% during the third quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock worth $442,935,000 after purchasing an additional 16,638,397 shares during the period. Institutional investors own 84.02% of the company’s stock.

NU Company Profile

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.