Formula Growth Ltd. Invests $931,000 in NerdWallet, Inc. (NASDAQ:NRDS)

Formula Growth Ltd. purchased a new stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 70,000 shares of the company's stock, valued at approximately $931,000. Formula Growth Ltd. owned 0.10% of NerdWallet at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NRDS. Canada Pension Plan Investment Board bought a new position in shares of NerdWallet during the fourth quarter worth $1,169,000. Marshall Wace LLP acquired a new position in NerdWallet in the fourth quarter valued at about $3,477,000. Jump Financial LLC bought a new stake in shares of NerdWallet in the fourth quarter worth about $799,000. Quinn Opportunity Partners LLC raised its position in shares of NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after purchasing an additional 867,681 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of NerdWallet by 49.5% during the 4th quarter. Renaissance Technologies LLC now owns 742,909 shares of the company's stock valued at $9,881,000 after purchasing an additional 246,009 shares in the last quarter. Institutional investors own 38.81% of the company's stock.

NerdWallet Stock Performance

NerdWallet stock traded up $0.23 during mid-day trading on Thursday, reaching $9.04. The company's stock had a trading volume of 87,209 shares, compared to its average volume of 535,503. The business's 50 day simple moving average is $9.40 and its 200 day simple moving average is $12.18. NerdWallet, Inc. has a 12 month low of $7.55 and a 12 month high of $16.45. The company has a market capitalization of $669.57 million, a price-to-earnings ratio of 22.58 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $183.80 million during the quarter, compared to analysts' expectations of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. As a group, sell-side analysts expect that NerdWallet, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on NRDS. Morgan Stanley dropped their target price on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays boosted their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

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.