Charles Schwab Investment Management Inc. Raises Stock Position in NerdWallet, Inc. (NASDAQ:NRDS)

Charles Schwab Investment Management Inc. lifted its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 329,444 shares of the company’s stock after buying an additional 5,209 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in NerdWallet were worth $4,187,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NRDS. Quarry LP purchased a new position in NerdWallet during the second quarter valued at approximately $31,000. nVerses Capital LLC acquired a new stake in shares of NerdWallet during the third quarter worth $62,000. US Bancorp DE acquired a new position in NerdWallet during the third quarter valued at $86,000. Intech Investment Management LLC acquired a new position in NerdWallet during the third quarter valued at $135,000. Finally, Algert Global LLC acquired a new position in NerdWallet during the second quarter valued at $196,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NerdWallet news, insider Samuel Yount sold 65,167 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $13.79, for a total transaction of $898,652.93. Following the sale, the insider now directly owns 581,419 shares in the company, valued at $8,017,768.01. This represents a 10.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the sale, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 45.93% of the stock is owned by company insiders.

NerdWallet Price Performance

NASDAQ:NRDS opened at $13.34 on Friday. The firm has a market capitalization of $979.69 million, a price-to-earnings ratio of -95.28 and a beta of 1.31. The company’s 50-day moving average is $13.46 and its two-hundred day moving average is $13.38. NerdWallet, Inc. has a 1-year low of $10.10 and a 1-year high of $17.30.

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

Analyst Ratings Changes

A number of research firms recently issued reports on NRDS. Morgan Stanley boosted their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. KeyCorp boosted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NerdWallet presently has an average rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet 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.