Insider Selling: Nerdy, Inc. (NYSE:NRDY) CFO Sells 75,000 Shares of Stock

Nerdy, Inc. (NYSE:NRDY - Get Free Report) CFO Jason H. Pello sold 75,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $1.51, for a total value of $113,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,068,805 shares of the company's stock, valued at $3,123,895.55. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Nerdy Stock Up 5.1 %

NRDY traded up $0.08 during trading hours on Friday, hitting $1.56. The stock had a trading volume of 1,184,453 shares, compared to its average volume of 1,793,607. The company's fifty day simple moving average is $1.72 and its 200 day simple moving average is $1.38. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.28. The stock has a market cap of $283.71 million, a PE ratio of -4.57 and a beta of 2.00.

Institutional Investors Weigh In On Nerdy

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company's stock worth $4,224,000 after acquiring an additional 79,624 shares during the last quarter. Geode Capital Management LLC increased its holdings in Nerdy by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company's stock worth $2,837,000 after acquiring an additional 32,213 shares during the last quarter. State Street Corp increased its holdings in Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company's stock worth $1,232,000 after acquiring an additional 11,721 shares during the last quarter. Northern Trust Corp boosted its stake in Nerdy by 12.2% in the 4th quarter. Northern Trust Corp now owns 684,590 shares of the company's stock worth $1,109,000 after purchasing an additional 74,233 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Nerdy by 99.5% in the 4th quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company's stock worth $665,000 after purchasing an additional 204,760 shares during the period. Hedge funds and other institutional investors own 39.10% of the company's stock.

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Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their target price on Nerdy from $1.00 to $1.50 and gave the company a "neutral" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.31.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.