Connor Clark & Lunn Investment Management Ltd. boosted its position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 157.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 908,468 shares of the company's stock after buying an additional 555,329 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.24% of NerdWallet worth $12,083,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NRDS. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 19,330 shares during the period. State Street Corp lifted its stake in shares of NerdWallet by 3.7% in the 3rd quarter. State Street Corp now owns 799,521 shares of the company's stock valued at $10,162,000 after purchasing an additional 28,785 shares during the period. Basswood Capital Management L.L.C. acquired a new position in shares of NerdWallet in the 3rd quarter valued at $6,446,000. Jacobs Levy Equity Management Inc. boosted its holdings in NerdWallet by 346.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company's stock worth $6,333,000 after buying an additional 386,646 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in NerdWallet by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 329,444 shares of the company's stock valued at $4,187,000 after buying an additional 5,209 shares during the period. Institutional investors and hedge funds own 38.81% of the company's stock.
Insider Buying and Selling at NerdWallet
In other NerdWallet news, insider Samuel Yount sold 3,003 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.45, for a total transaction of $40,390.35. Following the sale, the insider now directly owns 401,101 shares in the company, valued at $5,394,808.45. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 45.93% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Morgan Stanley dropped their price objective on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays upped their price target 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.00.
Check Out Our Latest Stock Analysis on NRDS
NerdWallet Stock Performance
Shares of NASDAQ NRDS traded up $0.21 during mid-day trading on Wednesday, reaching $8.98. 709,380 shares of the company's stock were exchanged, compared to its average volume of 509,538. The firm has a market capitalization of $665.49 million, a price-to-earnings ratio of 22.45 and a beta of 1.39. NerdWallet, Inc. has a 52-week low of $8.75 and a 52-week high of $16.45. The company's 50-day moving average is $12.46 and its 200-day moving average is $12.95.
NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The business had revenue of $183.80 million during the quarter, compared to analysts' expectations of $168.33 million. As a group, equities analysts predict that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.
NerdWallet Profile
(
Free Report)
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.
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