NU (NYSE:NU) Shares Gap Down – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU) gapped down before the market opened on Friday . The stock had previously closed at $13.53, but opened at $12.71. NU shares last traded at $12.86, with a volume of 11,109,053 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Barclays increased their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. KeyCorp boosted their price target on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Bank of America upped their price objective on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Susquehanna lifted their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.21.

NU Stock Performance

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 has a fifty day simple moving average of $14.35 and a two-hundred day simple moving average of $13.34. The firm has a market capitalization of $59.48 billion, a P/E ratio of 34.83, a P/E/G ratio of 0.66 and a beta of 1.13.

Institutional Trading of NU

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of NU by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 9,593,217 shares of the company’s stock worth $114,447,000 after purchasing an additional 343,114 shares in the last quarter. Advisors Asset Management Inc. grew its stake in NU by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 30,314 shares of the company’s stock valued at $362,000 after acquiring an additional 7,717 shares during the period. LRI Investments LLC bought a new stake in shares of NU during the first quarter valued at approximately $91,000. Atria Investments Inc acquired a new position in shares of NU during the first quarter worth approximately $1,405,000. Finally, Cetera Advisors LLC bought a new position in shares of NU in the 1st quarter worth $773,000. Institutional investors and hedge funds 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.