NU (NYSE:NU) Shares Down 2.9% – Time to Sell?

Shares of Nu Holdings Ltd. (NYSE:NU) were down 2.9% on Thursday . The company traded as low as $13.49 and last traded at $13.53. Approximately 31,092,908 shares changed hands during trading, a decline of 5% from the average daily volume of 32,858,809 shares. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America increased their price objective on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. KeyCorp boosted their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Susquehanna lifted their target price on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.21.

NU Price Performance

The firm has a market capitalization of $64.48 billion, a P/E ratio of 37.58, a P/E/G ratio of 0.64 and a beta of 1.13. The business’s fifty day moving average is $14.37 and its 200 day moving average is $13.34. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On NU

A number of institutional investors have recently bought and sold shares of NU. Fisher Asset Management LLC purchased a new stake in shares of NU in the 3rd quarter valued at approximately $98,704,000. Thrivent Financial for Lutherans boosted its position in NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after acquiring an additional 48,445 shares during the period. Adero Partners LLC grew its stake in NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after acquiring an additional 259,324 shares in the last quarter. Aigen Investment Management LP purchased a new position in NU during the third quarter valued at approximately $814,000. Finally, Principal Financial Group Inc. lifted its position in NU by 315.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,464 shares of the company’s stock worth $15,745,000 after buying an additional 876,039 shares in the last quarter. Hedge funds and other institutional investors 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.