NerdWallet (NASDAQ:NRDS) Insider Sells $31,946.71 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) insider Samuel Yount sold 3,011 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.61, for a total transaction of $31,946.71. Following the transaction, the insider directly owned 198,251 shares of the company’s stock, valued at $2,103,443.11. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NerdWallet Price Performance

NASDAQ:NRDS traded up $0.16 during trading hours on Monday, reaching $10.09. 1,372,485 shares of the company were exchanged, compared to its average volume of 1,030,472. The firm has a market cap of $673.87 million, a price-to-earnings ratio of 15.77 and a beta of 1.44. The stock has a 50 day simple moving average of $11.41 and a 200 day simple moving average of $12.15. NerdWallet, Inc. has a 52-week low of $7.55 and a 52-week high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. On average, analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its Board of Directors has approved a stock buyback program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On NerdWallet

Large investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after buying an additional 497,978 shares during the period. Tudor Investment Corp ET AL purchased a new position in NerdWallet in the 3rd quarter worth approximately $2,812,000. Nuveen LLC grew its position in NerdWallet by 296.1% in the fourth quarter. Nuveen LLC now owns 330,631 shares of the company’s stock valued at $4,480,000 after acquiring an additional 247,157 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in NerdWallet by 26.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after acquiring an additional 234,691 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of NerdWallet by 52.2% during the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after purchasing an additional 167,954 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

Analyst Ratings Changes

NRDS has been the subject of a number of research reports. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Truist Financial cut their price target on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Oppenheimer decreased their price objective on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Finally, Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $14.00 to $9.00 in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.33.

About NerdWallet

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.