NerdWallet (NASDAQ:NRDS) Shares Down 5.8% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) shares traded down 5.8% during trading on Wednesday . The stock traded as low as $13.51 and last traded at $13.60. 145,756 shares traded hands during trading, a decline of 68% from the average session volume of 457,416 shares. The stock had previously closed at $14.44.

Wall Street Analyst Weigh In

NRDS has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Price Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -103.14 and a beta of 1.32. The business’s 50-day moving average is $13.42 and its 200 day moving average is $13.38.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. NerdWallet’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) earnings per share. Analysts anticipate that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of NerdWallet stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 8.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lauren Stclair sold 11,856 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the sale, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its stake in shares of NerdWallet by 5.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after purchasing an additional 1,190 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after purchasing an additional 1,561 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of NerdWallet by 2.0% in the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock valued at $1,545,000 after purchasing an additional 2,070 shares in the last quarter. Quarry LP bought a new position in NerdWallet in the 2nd quarter valued at approximately $31,000. Finally, The Manufacturers Life Insurance Company raised its holdings in NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock valued at $219,000 after buying an additional 2,172 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Company Profile

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.