NU (NYSE:NU) Trading Up 7.9% - Here's What Happened

Shares of Nu Holdings Ltd. (NYSE:NU - Get Free Report) were up 7.9% during trading on Tuesday . The company traded as high as $13.32 and last traded at $13.31. Approximately 37,280,400 shares traded hands during trading, a decline of 18% from the average daily volume of 45,729,755 shares. The stock had previously closed at $12.34.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lifted their price target on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Morgan Stanley restated an "overweight" rating on shares of NU in a report on Friday, June 13th. JPMorgan Chase & Co. raised shares of NU from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $14.00 to $13.00 in a report on Tuesday, April 8th. Finally, Susquehanna increased their target price on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.13.

NU Trading Down 1.5%

The stock's fifty day moving average price is $12.25 and its 200 day moving average price is $11.73. The stock has a market cap of $63.75 billion, a P/E ratio of 30.77, a PEG ratio of 0.77 and a beta of 1.04. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). NU had a return on equity of 30.77% and a net margin of 17.88%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Equities research analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On NU

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its holdings in NU by 17.9% during the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock valued at $2,715,243,000 after purchasing an additional 40,181,132 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NU by 24.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company's stock valued at $557,422,000 after purchasing an additional 10,785,851 shares during the period. Norges Bank bought a new position in shares of NU in the fourth quarter worth about $447,762,000. Geode Capital Management LLC increased its stake in NU by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 33,777,551 shares of the company's stock worth $348,774,000 after buying an additional 1,179,748 shares during the period. Finally, Kontiki Capital Management HK Ltd. lifted its holdings in NU by 54.3% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company's stock valued at $333,575,000 after buying an additional 11,465,700 shares in the last quarter. Institutional investors own 84.02% of the company's stock.

NU Company Profile

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.