NU (NYSE:NU) Trading 1.3% Higher – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU) shares were up 1.3% on Wednesday . The stock traded as high as $10.41 and last traded at $10.37. Approximately 26,181,857 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 33,975,875 shares. The stock had previously closed at $10.24.

Analyst Upgrades and Downgrades

Several analysts recently commented on NU shares. Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Susquehanna boosted their price objective on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. KeyCorp increased their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Bank of America boosted their price target on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group lifted their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NU has an average rating of “Hold” and an average target price of $15.63.

NU Trading Down 0.1 %

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $49.38 billion, a P/E ratio of 28.78, a P/E/G ratio of 0.59 and a beta of 0.99. The business has a 50-day moving average price of $13.33 and a two-hundred day moving average price of $13.29.

Hedge Funds Weigh In On NU

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in NU by 105.9% in the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock valued at $1,076,509,000 after acquiring an additional 40,560,986 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of 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 purchasing an additional 24,140,416 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NU by 458.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company’s stock worth $193,111,000 after buying an additional 11,613,191 shares during the last quarter. Finally, FMR LLC lifted its position in shares of 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 during the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

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.