NerdWallet (NASDAQ:NRDS) Trading Up 5.9% – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS)’s share price traded up 5.9% on Monday . The company traded as high as $14.41 and last traded at $14.56. 33,246 shares were traded during mid-day trading, a decline of 92% from the average session volume of 416,314 shares. The stock had previously closed at $13.75.

Analysts Set New Price Targets

A number of research analysts recently commented on NRDS shares. Barclays increased their price target on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, KeyCorp increased their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

NerdWallet Price Performance

The company’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $13.31.

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

Insider Transactions at NerdWallet

In related news, CFO Lauren Stclair sold 11,856 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel Yount sold 440,336 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 254,237 shares in the company, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 822,353 shares of company stock worth $11,051,439. 45.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock valued at $216,000 after acquiring an additional 2,364 shares in the last quarter. Barclays PLC raised its holdings in shares of NerdWallet by 374.6% in the 3rd quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after purchasing an additional 51,524 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NerdWallet by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of NerdWallet in the 3rd quarter worth approximately $220,000. Finally, State Street Corp boosted its stake in shares of NerdWallet by 3.7% during the third quarter. State Street Corp now owns 799,521 shares of the company’s stock valued at $10,162,000 after purchasing an additional 28,785 shares in the last quarter. 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.