NerdWallet, Inc. (NASDAQ:NRDS) Stock Position Lowered by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 54.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,868 shares of the company’s stock after selling 16,639 shares during the period. SG Americas Securities LLC’s holdings in NerdWallet were worth $176,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NRDS. Lord Abbett & CO. LLC increased its holdings in NerdWallet by 108.4% in the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after buying an additional 481,958 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 buying an additional 432,262 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 86,376 shares during the last quarter. Renaissance Technologies LLC boosted its stake in NerdWallet by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock valued at $3,665,000 after purchasing an additional 39,800 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in NerdWallet in the 2nd quarter valued at approximately $555,000. 38.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NRDS has been the subject of several research reports. Barclays reduced their target price 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. Truist Financial decreased their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer lowered their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Two investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

NerdWallet Price Performance

Shares of NerdWallet stock opened at $11.01 on Thursday. NerdWallet, Inc. has a 1 year low of $6.38 and a 1 year high of $17.30. The business has a 50-day moving average of $12.39 and a two-hundred day moving average of $13.30. The company has a market capitalization of $855.90 million, a P/E ratio of -64.76 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $150.60 million for the quarter, compared to the consensus estimate of $149.93 million. NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, equities analysts anticipate that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at NerdWallet

In related news, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the transaction, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the transaction, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.