Barclays PLC Acquires 51,524 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Barclays PLC raised its position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 374.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,277 shares of the company's stock after purchasing an additional 51,524 shares during the quarter. Barclays PLC owned 0.09% of NerdWallet worth $830,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in NerdWallet in the 2nd quarter valued at approximately $31,000. nVerses Capital LLC bought a new position in shares of NerdWallet during the third quarter valued at $62,000. US Bancorp DE bought a new position in shares of NerdWallet during the third quarter valued at $86,000. Intech Investment Management LLC bought a new stake in shares of NerdWallet in the third quarter worth $135,000. Finally, TNF LLC acquired a new stake in NerdWallet in the third quarter valued at $178,000. 38.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NRDS. KeyCorp lifted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Barclays lifted their price objective on NerdWallet from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.

Insider Activity at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the transaction, the insider now directly owns 5,251,145 shares of the company's stock, valued at $59,600,495.75. This trade represents a 8.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction 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 directly owns 313,100 shares of the company's stock, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 822,353 shares of company stock worth $11,051,439 in the last quarter. Company insiders own 45.93% of the company's stock.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS traded up $0.05 during midday trading on Thursday, reaching $14.28. The company's stock had a trading volume of 110,968 shares, compared to its average volume of 541,287. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The firm has a 50 day moving average price of $13.86 and a two-hundred day moving average price of $13.36. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -102.03 and a beta of 1.32.

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

NerdWallet 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.