JPMorgan Chase & Co. Boosts Stake in NerdWallet, Inc. (NASDAQ:NRDS)

JPMorgan Chase & Co. grew its stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 556.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,020 shares of the company's stock after acquiring an additional 204,326 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of NerdWallet worth $3,206,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in NerdWallet by 892.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company's stock valued at $2,875,000 after buying an additional 194,387 shares during the last quarter. Barclays PLC grew its stake in shares of NerdWallet by 374.6% during the third quarter. Barclays PLC now owns 65,277 shares of the company's stock worth $830,000 after acquiring an additional 51,524 shares during the last quarter. Versor Investments LP acquired a new position in shares of NerdWallet during the fourth quarter valued at about $669,000. Finally, State Street Corp raised its position 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 last quarter. 38.81% of the stock is owned by institutional investors.

NerdWallet Stock Performance

Shares of NerdWallet stock traded up $0.03 during trading on Friday, hitting $9.11. 130,271 shares of the company's stock were exchanged, compared to its average volume of 535,622. NerdWallet, Inc. has a 52-week low of $7.55 and a 52-week high of $16.45. The stock has a market capitalization of $674.75 million, a price-to-earnings ratio of 22.78 and a beta of 1.41. The business has a 50-day simple moving average of $9.30 and a 200-day simple moving average of $12.16.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) 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 negative return on equity of 2.08% and a net margin of 4.42%. On average, equities analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Barclays lifted their price target on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

NerdWallet Company 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.