NerdWallet (NASDAQ:NRDS) Sees Strong Trading Volume on Analyst Upgrade

Shares of NerdWallet, Inc. (NASDAQ:NRDS) saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $17.00 to $19.00. Barclays currently has an overweight rating on the stock. 624,750 shares were traded during trading, an increase of 67% from the previous session’s volume of 373,900 shares.The stock last traded at $11.85 and had previously closed at $13.98.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NerdWallet currently has an average rating of “Moderate Buy” and an average target price of $17.60.

Insider Activity at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares in the company, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the sale, the chief financial officer now owns 313,100 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 822,353 shares of company stock worth $11,051,439. 45.93% of the stock is owned by insiders.

Institutional Investors Weigh In On NerdWallet

Several large investors have recently modified their holdings of NRDS. TNF LLC bought a new stake in shares of NerdWallet in the third quarter worth about $178,000. US Bancorp DE acquired a new position in shares of NerdWallet during the third quarter worth about $86,000. Olympiad Research LP boosted its position in shares of NerdWallet by 42.3% during the third quarter. Olympiad Research LP now owns 16,711 shares of the company’s stock worth $212,000 after buying an additional 4,967 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of NerdWallet by 5.8% during the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after buying an additional 1,190 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of NerdWallet by 138.4% during the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after buying an additional 28,644 shares during the period. 38.81% of the stock is currently owned by institutional investors.

NerdWallet Price Performance

The company has a market capitalization of $758.64 million, a price-to-earnings ratio of 25.83 and a beta of 1.33. The firm has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $13.21.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. On average, equities analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current year.

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.