Jane Street Group LLC Decreases Stock Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Jane Street Group LLC reduced its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 22.9% in the third quarter, HoldingsChannel reports. The firm owned 50,154 shares of the company’s stock after selling 14,898 shares during the period. Jane Street Group LLC’s holdings in NerdWallet were worth $637,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in NerdWallet by 3.7% in the third quarter. State Street Corp now owns 799,521 shares of the company’s stock valued at $10,162,000 after buying an additional 28,785 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 86,376 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in NerdWallet in the third quarter valued at about $6,446,000. Jacobs Levy Equity Management Inc. raised its stake in NerdWallet by 346.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock valued at $6,333,000 after buying an additional 386,646 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of NerdWallet by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after purchasing an additional 86,029 shares during the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

NerdWallet stock opened at $13.67 on Friday. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The company has a market capitalization of $1.00 billion, a P/E ratio of -97.64 and a beta of 1.31. The stock has a 50-day simple moving average of $13.86 and a 200-day simple moving average of $13.35.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. The trade was a 8.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Topline Capital Management, Ll purchased 49,722 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the acquisition, the insider now owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This trade represents a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 822,353 shares of company stock valued at $11,051,439. Corporate 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.