NerdWallet (NASDAQ:NRDS) Major Shareholder Sells 587,835 Shares

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 587,835 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $9.22, for a total value of $5,419,838.70. Following the transaction, the insider directly owned 3,744,157 shares in the company, valued at approximately $34,521,127.54. This represents a 13.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 value of $4,216,663.44.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Price Performance

Shares of NRDS stock traded down $0.14 on Tuesday, hitting $9.25. 777,375 shares of the stock traded hands, compared to its average volume of 938,484. The company’s fifty day moving average is $8.99 and its 200 day moving average is $10.75. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24. The company has a market capitalization of $608.64 million, a PE ratio of 9.95 and a beta of 1.25.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that NerdWallet, Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

NRDS has been the topic of several research reports. Citigroup dropped their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $14.00 to $9.00 in a report on Friday, March 13th. Truist Financial dropped their price target on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NerdWallet has an average rating of “Hold” and a consensus price target of $12.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDS. Covestor Ltd bought a new position in NerdWallet in the 4th quarter worth about $34,000. Tower Research Capital LLC TRC raised its holdings in shares of NerdWallet by 37.1% during the second 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 during the last quarter. New York State Teachers Retirement System acquired a new position in shares of NerdWallet during the first quarter worth approximately $41,000. Polymer Capital Management US LLC bought a new position in NerdWallet in the 3rd quarter worth approximately $111,000. Finally, Moran Wealth Management LLC bought a new stake in NerdWallet during the 4th quarter valued at $148,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.