NerdWallet, Inc. (NASDAQ:NRDS) Given Consensus Rating of “Hold” by Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.8333.

A number of equities research analysts have weighed in on the stock. Weiss Ratings lowered shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. KeyCorp cut their price target on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Oppenheimer reduced their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, Citigroup decreased their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

Insider Activity at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44. Following the completion of the sale, the insider owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,961,860 shares of company stock valued at $17,862,921. Insiders own 52.75% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDS. Vanguard Group Inc. increased its position in NerdWallet by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after purchasing an additional 444,038 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NerdWallet by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after purchasing an additional 153,790 shares during the period. Renaissance Technologies LLC lifted its position in shares of NerdWallet by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after purchasing an additional 202,838 shares during the period. Finally, State Street Corp boosted its stake in shares of NerdWallet by 3.2% in the 4th quarter. State Street Corp now owns 922,142 shares of the company’s stock valued at $12,495,000 after purchasing an additional 28,844 shares during the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Stock Down 1.9%

Shares of NRDS opened at $9.08 on Thursday. The stock has a market cap of $597.46 million, a PE ratio of 9.76 and a beta of 1.23. NerdWallet has a 12-month low of $7.33 and a 12-month high of $16.24. The business has a 50-day simple moving average of $8.90 and a two-hundred day simple moving average of $9.88.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $227.63 million. NerdWallet’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that NerdWallet will post 0.85 EPS for the current year.

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.