NU (NYSE:NU) Trading Up 1.1% – Here’s Why

Shares of Nu Holdings Ltd. (NYSE:NU) traded up 1.1% during trading on Tuesday . The stock traded as high as $14.51 and last traded at $14.39. 8,064,941 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 32,743,229 shares. The stock had previously closed at $14.23.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NU shares. The Goldman Sachs Group increased their price objective on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Susquehanna upped 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 raised their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Barclays upped their price target on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.21.

NU Price Performance

The firm has a market cap of $64.48 billion, a P/E ratio of 37.58, a PEG ratio of 0.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The stock’s 50-day simple moving average is $14.37 and its two-hundred day simple moving average is $13.34.

Hedge Funds Weigh In On NU

Several hedge funds have recently added to or reduced their stakes in NU. Baillie Gifford & Co. boosted its position in shares of NU by 13.0% during the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after buying an additional 24,140,416 shares during the period. Jennison Associates LLC lifted its stake in shares of NU by 7.1% during the 3rd quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock worth $1,320,705,000 after acquiring an additional 6,435,526 shares during the last quarter. State Street Corp boosted its holdings in NU by 105.9% during the 3rd 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 period. FMR LLC grew its position in NU by 16.4% in the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company’s stock valued at $843,596,000 after acquiring an additional 8,728,833 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in NU by 104.3% in the 3rd quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock valued at $442,935,000 after acquiring an additional 16,638,397 shares during the last quarter. 80.90% of the stock is currently 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.