670,186 Shares in NerdWallet, Inc. $NRDS Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) in the first quarter, Holdings Channel.com reports. The institutional investor bought 670,186 shares of the company’s stock, valued at approximately $6,957,000.

Several other institutional investors also recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new position in NerdWallet during the 3rd quarter valued at about $2,812,000. UBS Group AG boosted its holdings in NerdWallet by 52.2% in the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock worth $6,634,000 after acquiring an additional 167,954 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of NerdWallet by 400.7% during the third quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after acquiring an additional 78,447 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Covestor Ltd acquired a new position in shares of NerdWallet during the fourth quarter valued at about $34,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Trading Down 1.3%

NASDAQ:NRDS opened at $8.51 on Friday. The company has a market cap of $559.96 million, a P/E ratio of 9.15 and a beta of 1.25. NerdWallet, Inc. has a twelve month low of $7.33 and a twelve month high of $16.24. The company’s 50-day moving average price is $9.05 and its 200-day moving average price is $10.83.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts expect that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on NRDS. Weiss Ratings lowered shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Zacks Research upgraded NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. KeyCorp cut their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Truist Financial dropped their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $14.00 to $9.00 in a research note on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NerdWallet has an average rating of “Hold” and an average target price of $12.83.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.