Jacobs Levy Equity Management Inc. Acquires 386,646 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Jacobs Levy Equity Management Inc. increased its holdings in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 346.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 498,244 shares of the company's stock after buying an additional 386,646 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.68% of NerdWallet worth $6,333,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC grew its stake in shares of NerdWallet by 5.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company's stock valued at $277,000 after purchasing an additional 1,190 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company's stock valued at $229,000 after purchasing an additional 1,561 shares during the period. Marshall Wace LLP grew its stake in shares of NerdWallet by 2.0% during the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company's stock valued at $1,545,000 after purchasing an additional 2,070 shares during the period. Quarry LP bought a new stake in shares of NerdWallet during the 2nd quarter valued at about $31,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company's stock valued at $219,000 after purchasing an additional 2,172 shares during the period. 38.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Topline Capital Management, Ll purchased 49,722 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were bought at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the acquisition, the insider now owns 4,839,090 shares of the company's stock, valued at approximately $58,311,034.50. This represents a 1.04 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the sale, the chief financial officer now owns 313,100 shares in the company, valued at $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NRDS. Morgan Stanley boosted 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 boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price objective on NerdWallet from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

NerdWallet Stock Up 0.1 %

NASDAQ NRDS traded up $0.01 during trading hours on Friday, reaching $13.53. The company's stock had a trading volume of 322,791 shares, compared to its average volume of 457,839. The firm's 50-day moving average price is $13.33 and its 200-day moving average price is $13.38. NerdWallet, Inc. has a 1 year low of $10.10 and a 1 year high of $17.30. The company has a market capitalization of $993.63 million, a price-to-earnings ratio of -96.57 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The company had revenue of $191.30 million for the quarter, compared to analysts' expectations of $168.25 million. During the same period in the previous year, the firm earned ($0.01) EPS. The firm's revenue was up 25.2% compared to the same quarter last year. Equities research analysts anticipate that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

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.