NerdWallet (NASDAQ:NRDS) Shares Down 5.8% – Here’s Why

NerdWallet, Inc. (NASDAQ:NRDS) shares traded down 5.8% during mid-day trading on Wednesday . The stock traded as low as $13.51 and last traded at $13.60. 145,756 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 457,416 shares. The stock had previously closed at $14.44.

Analyst Ratings Changes

Several research analysts have weighed in on NRDS shares. Morgan Stanley increased their target price on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their target price on NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, NerdWallet currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Stock Performance

The company’s 50-day simple moving average is $13.45 and its 200 day simple moving average is $13.38. The company has a market cap of $979.69 million, a PE ratio of -95.28 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $168.25 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. Analysts forecast that NerdWallet, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other NerdWallet news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the transaction, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. The trade was a 8.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the transaction, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. acquired a new stake in NerdWallet during the third quarter worth approximately $6,446,000. Jacobs Levy Equity Management Inc. raised its stake in NerdWallet by 346.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock worth $6,333,000 after acquiring an additional 386,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NerdWallet by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after acquiring an additional 86,376 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in NerdWallet by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock valued at $4,488,000 after acquiring an additional 86,029 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in NerdWallet in the third quarter valued at $890,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.