Fmr LLC Decreases Position in NerdWallet, Inc. (NASDAQ:NRDS)

FMR LLC lessened its holdings in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 23.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,330,494 shares of the company's stock after selling 414,172 shares during the quarter. FMR LLC owned approximately 1.81% of NerdWallet worth $16,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of NerdWallet during the second quarter worth about $445,000. Bank of New York Mellon Corp raised its stake in NerdWallet by 27.6% during the second quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company's stock worth $1,794,000 after buying an additional 26,572 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of NerdWallet in the 2nd quarter valued at about $555,000. Natixis Advisors LLC acquired a new stake in shares of NerdWallet during the 2nd quarter worth approximately $250,000. Finally, Rhumbline Advisers increased its position in NerdWallet by 17.6% in the 2nd quarter. Rhumbline Advisers now owns 52,373 shares of the company's stock valued at $765,000 after buying an additional 7,837 shares in the last quarter. 38.81% of the stock is owned by institutional investors.

Insider Activity at NerdWallet

In other NerdWallet news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now owns 5,251,145 shares of the company's stock, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Topline Capital Management, Ll bought 49,722 shares of the firm's stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $12.05 per share, for a total transaction 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. The trade was 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 currently owned by corporate insiders.

NerdWallet Trading Down 4.5 %

Shares of NASDAQ:NRDS traded down $0.65 during midday trading on Wednesday, reaching $13.79. The company had a trading volume of 366,014 shares, compared to its average volume of 458,388. The stock has a market cap of $1.01 billion, a P/E ratio of -103.14 and a beta of 1.32. NerdWallet, Inc. has a 52-week low of $10.10 and a 52-week high of $17.30. The company's 50 day moving average price is $13.42 and its 200 day moving average price is $13.38.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) 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 analysts' expectations of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The firm's quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. Research analysts forecast that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NRDS shares. Morgan Stanley lifted their price target on NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. KeyCorp increased their price target on NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.00.

About NerdWallet

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.