NerdWallet (NASDAQ:NRDS) Given New $12.00 Price Target at Morgan Stanley

NerdWallet (NASDAQ:NRDS) had its target price dropped by analysts at Morgan Stanley from $15.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 14.50% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Barclays increased their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. KeyCorp increased their target price on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, NerdWallet presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Stock Performance

NerdWallet stock opened at $10.48 on Monday. The stock has a fifty day moving average of $13.62 and a 200 day moving average of $13.24. The stock has a market cap of $769.65 million, a PE ratio of 26.20 and a beta of 1.33. NerdWallet has a one year low of $9.99 and a one year high of $17.30.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The company had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. As a group, sell-side analysts predict that NerdWallet will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel Yount sold 76,185 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $13.40, for a total value of $1,020,879.00. Following the completion of the sale, the insider now owns 522,656 shares in the company, valued at approximately $7,003,590.40. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 822,353 shares of company stock worth $11,051,439. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NerdWallet by 69.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company’s stock worth $1,238,000 after purchasing an additional 38,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in NerdWallet by 3,417.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after buying an additional 10,218 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in NerdWallet by 52.8% in the 4th quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company’s stock worth $9,091,000 after buying an additional 236,320 shares in the last quarter. Millennium Management LLC raised its stake in shares of NerdWallet by 325.8% in the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after purchasing an additional 535,701 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of NerdWallet by 14.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 569,106 shares of the company’s stock valued at $7,569,000 after purchasing an additional 70,862 shares in the last quarter. Hedge funds and other institutional investors own 38.81% 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.