NU (NYSE:NU) Cut to “Sell” at Citigroup

NU (NYSE:NU) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $14.60. Citigroup’s target price would suggest a potential downside of 12.21% from the company’s current price.

Several other equities research analysts have also recently weighed in on NU. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. KeyCorp lifted their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Bank of America upped their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group lifted their price target on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays increased their price objective on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.63.

NU Price Performance

Shares of NU stock opened at $12.53 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. The company has a market cap of $59.72 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 0.61 and a beta of 1.13. The firm has a fifty day moving average price of $14.28 and a two-hundred day moving average price of $13.36. NU has a fifty-two week low of $8.04 and a fifty-two week high of $16.15.

Hedge Funds Weigh In On NU

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NU. Franklin Resources Inc. boosted its stake in NU by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,060,504 shares of the company’s stock worth $74,288,000 after purchasing an additional 271,903 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of NU by 25.1% in the third quarter. Tidal Investments LLC now owns 2,312,956 shares of the company’s stock valued at $31,572,000 after buying an additional 463,866 shares during the last quarter. Blankinship & Foster LLC acquired a new position in NU during the 3rd quarter worth about $3,212,000. Wilmington Savings Fund Society FSB bought a new stake in NU during the 3rd quarter worth about $148,000. Finally, Morse Asset Management Inc increased its position in NU by 71.1% in the 3rd quarter. Morse Asset Management Inc now owns 58,786 shares of the company’s stock valued at $802,000 after acquiring an additional 24,436 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.

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.