Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Declines By 20.3%

NerdWallet, Inc. (NASDAQ:NRDS) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,280,000 shares, a drop of 20.3% from the February 13th total of 2,860,000 shares. Based on an average daily volume of 588,300 shares, the days-to-cover ratio is currently 3.9 days. Currently, 6.5% of the company’s shares are sold short.

Insider Buying and Selling at NerdWallet

In related news, insider Samuel Yount sold 154,465 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $13.14, for a total value of $2,029,670.10. Following the transaction, the insider now directly owns 409,147 shares of the company’s stock, valued at approximately $5,376,191.58. This trade represents a 27.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 597,804 shares of company stock worth $8,010,193 in the last quarter. 45.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NRDS. Topline Capital Management LLC acquired a new stake in NerdWallet during the 4th quarter worth about $69,840,000. Geode Capital Management LLC lifted its holdings in shares of NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after buying an additional 555,329 shares during the period. Quinn Opportunity Partners LLC grew its holdings in shares of NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after buying an additional 867,681 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NerdWallet by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock valued at $11,537,000 after buying an additional 64,366 shares in the last quarter. Institutional investors own 38.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NRDS. Barclays boosted their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley dropped their target price on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Price Performance

Shares of NRDS traded down $0.25 during trading hours on Tuesday, reaching $8.77. 440,694 shares of the company’s stock traded hands, compared to its average volume of 508,786. NerdWallet has a twelve month low of $8.76 and a twelve month high of $16.45. The firm has a market capitalization of $649.93 million, a price-to-earnings ratio of 21.93 and a beta of 1.39. The business’s fifty day simple moving average is $12.57 and its two-hundred day simple moving average is $12.98.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. On average, equities research analysts expect that NerdWallet will post 0.36 EPS for the current year.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.