The Manufacturers Life Insurance Company Buys 2,172 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

The Manufacturers Life Insurance Company increased its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,999 shares of the company’s stock after acquiring an additional 2,172 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NerdWallet were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of NerdWallet by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after acquiring an additional 432,262 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after acquiring an additional 481,958 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NerdWallet by 12.6% in the 2nd 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of NerdWallet by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock valued at $3,665,000 after acquiring an additional 39,800 shares in the last quarter. Finally, Steamboat Capital Partners LLC increased its stake in NerdWallet by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock valued at $3,558,000 after purchasing an additional 4,030 shares in the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $12.29 on Friday. The company’s 50-day moving average is $12.40 and its 200 day moving average is $13.36. The company has a market capitalization of $955.40 million, a P/E ratio of -72.29 and a beta of 1.42. NerdWallet, Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $17.30.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. NerdWallet’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. As a group, research analysts predict that NerdWallet, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on NRDS. Truist Financial decreased their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Barclays decreased their price target on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Oppenheimer decreased their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Insider Buying and Selling at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the sale, the vice president now directly owns 2,329,471 shares in the company, valued at $27,976,946.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 45.93% 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.