NerdWallet (NASDAQ:NRDS) Sets New 1-Year Low – What’s Next?

Shares of NerdWallet, Inc. (NASDAQ:NRDS) reached a new 52-week low on Tuesday . The company traded as low as $8.75 and last traded at $8.77, with a volume of 337003 shares. The stock had previously closed at $9.02.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NRDS shares. Morgan Stanley lowered their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Barclays upped their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Stock Performance

The stock has a market cap of $667.71 million, a PE ratio of 22.53 and a beta of 1.39. The firm’s 50-day moving average is $12.35 and its 200 day moving average is $12.93.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The business had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $168.33 million. On average, sell-side analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the sale, the insider now owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 45.93% of the stock is owned by insiders.

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of NerdWallet during the 4th quarter worth approximately $80,000. US Bancorp DE grew its holdings in NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company’s stock worth $128,000 after acquiring an additional 2,800 shares during the period. Intech Investment Management LLC purchased a new position in NerdWallet in the third quarter worth $135,000. AXQ Capital LP acquired a new stake in NerdWallet in the fourth quarter valued at $138,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after purchasing an additional 10,218 shares in the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.