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

Nu Holdings Ltd. (NYSE:NU) gapped down before the market opened on Tuesday . The stock had previously closed at $11.69, but opened at $11.36. NU shares last traded at $11.49, with a volume of 7,414,752 shares.

Analysts Set New Price Targets

Several research analysts recently commented on NU shares. UBS Group dropped their target price on shares of NU from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Barclays cut their price objective on NU from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Citigroup lowered NU from a “neutral” rating to a “sell” rating and lowered their target price for the company from $14.60 to $11.00 in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. cut their price target on NU from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, NU presently has an average rating of “Hold” and a consensus price target of $15.47.

NU Stock Down 3.0 %

The stock has a market capitalization of $54.07 billion, a P/E ratio of 28.36, a PEG ratio of 0.48 and a beta of 1.14. The business has a 50-day simple moving average of $12.07 and a two-hundred day simple moving average of $12.83. 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 announced its earnings results on Thursday, February 20th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. NU had a return on equity of 30.99% and a net margin of 17.12%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.17 billion. Equities research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of NU during the fourth quarter valued at $447,762,000. State Street Corp lifted its position 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 purchasing an additional 40,560,986 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of NU by 2,193.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 18,109,184 shares of the company’s stock valued at $187,611,000 after purchasing an additional 17,319,681 shares during the last quarter. Geode Capital Management LLC grew its position 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 during the period. Finally, D1 Capital Partners L.P. bought a new stake in shares of NU during the fourth quarter worth approximately $154,209,000. Institutional investors and hedge funds 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.