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

Nu Holdings Ltd. (NYSE:NU) shares gapped down prior to trading on Friday . The stock had previously closed at $13.34, but opened at $11.91. NU shares last traded at $11.31, with a volume of 35,803,918 shares trading hands.

Wall Street Analysts Forecast Growth

NU has been the topic of a number of research analyst reports. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their target price on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Citigroup cut shares of NU from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. Finally, KeyCorp upped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.80.

NU Trading Down 16.8 %

The firm’s 50 day simple moving average is $11.95 and its 200-day simple moving average is $13.23. The company has a market capitalization of $52.88 billion, a PE ratio of 30.78, a P/E/G ratio of 0.48 and a beta of 1.10. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20.

NU (NYSE:NU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. NU had a return on equity of 28.70% and a net margin of 16.28%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.17 billion. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.42 EPS for the current year.

Institutional Trading of NU

A number of hedge funds have recently made changes to their positions in NU. Baillie Gifford & Co. boosted its holdings in NU by 7.1% in the fourth quarter. Baillie Gifford & Co. now owns 224,979,342 shares of the company’s stock valued at $2,330,786,000 after purchasing an additional 14,875,891 shares during the last quarter. Jennison Associates LLC lifted its holdings in 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 buying an additional 6,435,526 shares during the last quarter. State Street Corp lifted 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 worth $1,076,509,000 after buying an additional 40,560,986 shares during the last quarter. FMR LLC raised 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 valued at $843,596,000 after acquiring an additional 8,728,833 shares in the last quarter. Finally, Norges Bank bought a new position in NU during the fourth quarter worth $447,762,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.