NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 4,615,484 shares, an increase of 34.5% from the January 29th total of 3,432,410 shares. Currently, 11.7% of the shares of the company are short sold. Based on an average trading volume of 1,135,255 shares, the days-to-cover ratio is currently 4.1 days. Based on an average trading volume of 1,135,255 shares, the days-to-cover ratio is currently 4.1 days. Currently, 11.7% of the shares of the company are short sold.

Analyst Ratings Changes

NRDS has been the subject of several research reports. Morgan Stanley increased their price objective on NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Truist Financial dropped their price target on NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Zacks Research lowered NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday. KeyCorp boosted their price objective on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Barclays increased their target price on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.20.

Insider Buying and Selling at NerdWallet

In other news, insider Samuel Yount sold 15,945 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the transaction, the insider directly owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 45.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

Several large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in NerdWallet by 37.1% in the 2nd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NerdWallet by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company’s stock worth $249,000 after purchasing an additional 1,934 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of NerdWallet by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock worth $215,000 after purchasing an additional 2,161 shares during the last quarter. AQR Capital Management LLC raised its stake in NerdWallet by 1.3% in the fourth quarter. AQR Capital Management LLC now owns 184,082 shares of the company’s stock valued at $2,494,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in NerdWallet by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,545 shares of the company’s stock valued at $482,000 after purchasing an additional 2,447 shares in the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Stock Up 2.1%

NRDS traded up $0.23 during trading on Monday, reaching $11.08. 1,205,464 shares of the company were exchanged, compared to its average volume of 1,009,429. The company’s 50-day moving average is $12.07 and its two-hundred day moving average is $12.10. The company has a market cap of $805.63 million, a price-to-earnings ratio of 17.31 and a beta of 1.44. NerdWallet has a 12-month low of $7.55 and a 12-month high of $16.24.

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

NerdWallet declared that its board has approved a share repurchase plan 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 plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.