Insider Buying: NerdWallet, Inc. (NASDAQ:NRDS) Major Shareholder Purchases $4,676,824.25 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp bought 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now directly owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

NerdWallet Stock Performance

NASDAQ NRDS opened at $11.33 on Friday. The firm has a market capitalization of $891.78 million, a price-to-earnings ratio of -75.53 and a beta of 1.42. NerdWallet, Inc. has a one year low of $6.48 and a one year high of $17.30. The company’s 50 day moving average price is $12.37 and its 200 day moving average price is $13.26.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The business had revenue of $150.60 million during the quarter, compared to analysts’ expectations of $149.93 million. During the same period in the prior year, the business posted ($0.14) EPS. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of recent analyst reports. Oppenheimer lowered their price objective on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Barclays decreased their price target on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Truist Financial dropped their price objective on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NRDS. Vanguard Group Inc. grew its stake in shares of NerdWallet by 12.1% in the first 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 in the last quarter. Lord Abbett & CO. LLC grew its position in NerdWallet by 108.4% in the first 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 raised its stake in shares of NerdWallet by 12.6% during 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 period. Renaissance Technologies LLC lifted its position in shares of NerdWallet by 18.8% during the second quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock worth $3,665,000 after purchasing an additional 39,800 shares in the last quarter. Finally, Steamboat Capital Partners LLC boosted its stake in shares of NerdWallet by 1.7% in the first 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 during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Company Profile

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.