Quantinno Capital Management LP grew its position in NerdWallet, Inc. (NASDAQ:NRDS – Free Report) by 286.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,764 shares of the company’s stock after buying an additional 53,915 shares during the period. Quantinno Capital Management LP owned 0.11% of NerdWallet worth $755,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. OP Asset Management Ltd bought a new position in NerdWallet in the first quarter valued at about $6,957,000. Millennium Management LLC raised its holdings in NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after purchasing an additional 497,978 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after purchasing an additional 444,038 shares during the period. Principal Financial Group Inc. bought a new position in shares of NerdWallet in the 1st quarter valued at about $2,903,000. Finally, Nuveen LLC boosted its stake in shares of NerdWallet by 296.1% in the 4th quarter. Nuveen LLC now owns 330,631 shares of the company’s stock valued at $4,480,000 after purchasing an additional 247,157 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Truist Financial dropped their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 11th. KeyCorp dropped their target price on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup reduced their price target on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.83.
NerdWallet Trading Up 3.6%
NRDS stock opened at $9.95 on Wednesday. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24. The firm has a market cap of $636.00 million, a PE ratio of 11.18 and a beta of 1.23. The business’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $9.68.
NerdWallet (NASDAQ:NRDS – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $197.30 million during the quarter, compared to the consensus estimate of $195.30 million. NerdWallet had a return on equity of 18.07% and a net margin of 7.56%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. On average, analysts forecast that NerdWallet, Inc. will post 0.88 earnings per share for the current year.
Insider Transactions at NerdWallet
In other NerdWallet news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total transaction of $4,216,663.44. Following the sale, the insider directly owned 3,289,285 shares in the company, valued at approximately $30,491,671.95. This trade represents a 12.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 1,961,860 shares of company stock worth $17,862,921. 52.75% of the stock is currently owned by corporate insiders.
NerdWallet 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.
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