Formula Growth Ltd. Buys Shares of 70,000 NerdWallet, Inc. (NASDAQ:NRDS)

Formula Growth Ltd. purchased a new position in NerdWallet, Inc. (NASDAQ:NRDS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 70,000 shares of the company’s stock, valued at approximately $931,000. Formula Growth Ltd. owned about 0.10% of NerdWallet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in NerdWallet in the 4th quarter worth about $80,000. US Bancorp DE grew its stake in shares of NerdWallet by 41.2% in the 4th quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after buying an additional 2,800 shares in the last quarter. AXQ Capital LP acquired a new position in NerdWallet in the fourth quarter worth approximately $138,000. Bailard Inc. bought a new position in NerdWallet during the fourth quarter valued at approximately $160,000. Finally, SG Americas Securities LLC lifted its stake in NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock valued at $216,000 after acquiring an additional 2,364 shares during the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NRDS. Barclays increased their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley lowered their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Stock Up 2.9 %

NASDAQ:NRDS opened at $8.54 on Friday. The company’s 50 day moving average is $9.71 and its 200-day moving average is $12.27. The firm has a market cap of $632.88 million, a price-to-earnings ratio of 21.35 and a beta of 1.41. NerdWallet, Inc. has a 12 month low of $7.55 and a 12 month high of $16.45.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The firm had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. Research analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

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.