Basswood Capital Management L.L.C. Purchases Shares of 507,122 NerdWallet, Inc. (NASDAQ:NRDS)

Basswood Capital Management L.L.C. acquired a new position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 507,122 shares of the company's stock, valued at approximately $6,446,000. Basswood Capital Management L.L.C. owned about 0.69% of NerdWallet at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in NerdWallet in the second quarter valued at approximately $31,000. nVerses Capital LLC bought a new position in NerdWallet during the third quarter worth $62,000. US Bancorp DE bought a new position in NerdWallet during the third quarter worth $86,000. Intech Investment Management LLC bought a new position in NerdWallet during the third quarter worth $135,000. Finally, Algert Global LLC bought a new position in NerdWallet during the second quarter worth $196,000. Institutional investors and hedge funds own 38.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NRDS shares. Morgan Stanley boosted their price target on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. 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. KeyCorp upped their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Truist Financial cut their target price on shares of NerdWallet from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.00.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS remained flat at $14.00 during mid-day trading on Monday. 162,409 shares of the company were exchanged, compared to its average volume of 458,972. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -100.00 and a beta of 1.39. The stock has a fifty day moving average of $13.24 and a 200 day moving average of $13.37. NerdWallet, Inc. has a 1-year low of $10.10 and a 1-year high of $17.30.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. The business had revenue of $191.30 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. On average, equities research analysts expect that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other NerdWallet news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the purchase, the insider now directly owns 5,251,145 shares of the company's stock, valued at $59,600,495.75. The trade was a 8.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Topline Capital Management, Ll purchased 49,722 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were acquired at an average cost of $12.05 per share, with a total value of $599,150.10. Following the completion of the purchase, the insider now directly owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This represents a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.93% of the stock is owned by company insiders.

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.