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

Shares of Nu Holdings Ltd. (NYSE:NU) gapped up before the market opened on Monday . The stock had previously closed at $10.82, but opened at $11.22. NU shares last traded at $11.31, with a volume of 29,557,179 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group decreased their target price on NU from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Susquehanna lifted their target price on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. KeyCorp lifted their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of NU from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.47.

NU Stock Up 3.4 %

The company has a market cap of $53.31 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $11.92 and its 200-day moving average price is $13.26.

NU (NYSE:NU) last announced its earnings results on Thursday, February 20th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.17 billion. NU had a net margin of 17.12% and a return on equity of 30.99%. Sell-side analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On NU

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in NU during the 4th quarter worth about $447,762,000. State Street Corp raised its holdings in shares of NU by 105.9% in 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. Baillie Gifford & Co. raised its holdings in shares of NU by 13.0% in the 3rd quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after purchasing an additional 24,140,416 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings 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 period. Finally, Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 16,638,397 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

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.