Insider Selling: NerdWallet (NASDAQ:NRDS) Insider Sells 71,988 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS) insider Samuel Yount sold 71,988 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the sale, the insider owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This represents a 29.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Samuel Yount also recently made the following trade(s):

• On Thursday, March 12th, Samuel Yount sold 3,011 shares of NerdWallet stock. The shares were sold at an average price of $10.61, for a total value of $31,946.71.

NerdWallet Trading Up 0.9%

NASDAQ NRDS traded up $0.09 on Thursday, hitting $10.27. The company’s stock had a trading volume of 907,773 shares, compared to its average volume of 1,281,549. The firm has a market cap of $685.93 million, a P/E ratio of 15.91 and a beta of 1.44. NerdWallet, Inc. has a 52-week low of $7.55 and a 52-week high of $16.24. The company’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $12.12.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts forecast that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NRDS has been the subject of several research analyst reports. Zacks Research lowered shares of NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Oppenheimer reduced their price target on NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley downgraded NerdWallet from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Finally, Truist Financial lowered their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.33.

Institutional Trading of NerdWallet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after buying an additional 1,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NerdWallet by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company’s stock worth $249,000 after acquiring an additional 1,934 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after acquiring an additional 2,161 shares in the last quarter. AQR Capital Management LLC raised its position in shares of NerdWallet by 1.3% in the 4th quarter. AQR Capital Management LLC now owns 184,082 shares of the company’s stock worth $2,494,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of NerdWallet by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,545 shares of the company’s stock worth $482,000 after purchasing an additional 2,447 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.