NerdWallet, Inc. (NASDAQ:NRDS) Insider Acquires $599,150.10 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) insider Topline Capital Management, Ll purchased 49,722 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average cost of $12.05 per share, with a total value of $599,150.10. Following the completion of the acquisition, the insider now owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

NerdWallet Trading Up 3.1 %

Shares of NRDS opened at $11.33 on Friday. NerdWallet, Inc. has a 52 week low of $6.48 and a 52 week high of $17.30. The firm has a market cap of $891.78 million, a price-to-earnings ratio of -75.53 and a beta of 1.42. The stock has a 50 day moving average of $12.37 and a 200-day moving average of $13.26.

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

Institutional Investors Weigh In On NerdWallet

A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC boosted its stake in NerdWallet by 11.1% in the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after acquiring an additional 1,561 shares during the period. Marshall Wace LLP lifted its holdings in shares of NerdWallet by 2.0% in the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,070 shares during the last quarter. Quarry LP acquired a new position in NerdWallet during the 2nd quarter valued at approximately $31,000. The Manufacturers Life Insurance Company grew its stake in NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after buying an additional 2,172 shares during the last quarter. Finally, Steamboat Capital Partners LLC increased its position in NerdWallet by 1.7% in the first quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after buying an additional 4,030 shares during the period. Institutional investors own 38.81% of the company’s stock.

Analyst Ratings Changes

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

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.