Topline Capital Partners, Lp Sells 919,153 Shares of NerdWallet (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 919,153 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the completion of the sale, the insider directly owned 4,331,992 shares of the company’s stock, valued at $38,771,328.40. The trade was a 17.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The stock was sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The stock was sold at an average price of $9.22, for a total transaction of $5,419,838.70.

NerdWallet Stock Up 1.1%

Shares of NRDS stock opened at $9.35 on Thursday. NerdWallet, Inc. has a 12-month low of $7.33 and a 12-month high of $16.24. The firm has a market capitalization of $615.23 million, a price-to-earnings ratio of 10.05 and a beta of 1.23. The firm has a fifty day moving average of $8.92 and a 200-day moving average of $10.67.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business 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. Research analysts expect that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Institutional Trading of NerdWallet

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of NerdWallet by 80.6% in the first quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock worth $366,000 after purchasing an additional 18,047 shares in the last quarter. Millennium Management LLC increased its stake in NerdWallet by 23.9% in the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after buying an additional 166,984 shares during the last quarter. Creative Planning bought a new stake in NerdWallet during the 2nd quarter worth about $177,000. JPMorgan Chase & Co. lifted its position in NerdWallet by 12.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock worth $215,000 after buying an additional 2,161 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of NerdWallet by 7.7% during the 2nd quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock worth $504,000 after buying an additional 3,300 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NRDS has been the topic of several recent analyst reports. Citigroup cut their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. KeyCorp lowered their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Truist Financial dropped their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Morgan Stanley lowered shares of 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. Finally, Oppenheimer reduced their price target on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.