Citigroup Downgrades NU (NYSE:NU) to Sell

NU (NYSE:NU) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $11.00 target price on the stock, down from their previous target price of $14.60. Citigroup’s price target would suggest a potential downside of 5.78% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Bank of America raised their target price on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Susquehanna boosted 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. JPMorgan Chase & Co. raised their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Barclays upped their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One investment 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, the company currently has a consensus rating of “Hold” and a consensus target price of $15.63.

NU Trading Down 2.7 %

Shares of NYSE:NU opened at $11.68 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. NU has a 1 year low of $8.06 and a 1 year high of $16.15. The company has a market cap of $55.64 billion, a P/E ratio of 32.42, a PEG ratio of 0.58 and a beta of 0.99. The stock’s fifty day moving average price is $14.23 and its 200-day moving average price is $13.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NU. Fisher Asset Management LLC purchased a new position in NU during the third quarter valued at approximately $98,704,000. Thrivent Financial for Lutherans raised its position in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock valued at $3,517,000 after purchasing an additional 48,445 shares during the period. Adero Partners LLC lifted its stake in shares of NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after buying an additional 259,324 shares in the last quarter. Summit Partners Public Asset Management LLC increased its stake in NU by 20.0% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock worth $4,095,000 after buying an additional 50,000 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in NU during the third quarter valued at about $15,829,000. 80.90% of the stock is currently owned by institutional investors.

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.