JPMorgan Chase & Co. Trims Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

JPMorgan Chase & Co. lowered its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 54.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,694 shares of the company's stock after selling 44,605 shares during the period. JPMorgan Chase & Co.'s holdings in NerdWallet were worth $466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of NerdWallet during the 2nd quarter worth about $31,000. nVerses Capital LLC acquired a new stake in NerdWallet during the third quarter worth approximately $62,000. US Bancorp DE purchased a new stake in NerdWallet in the 3rd quarter worth approximately $86,000. Intech Investment Management LLC acquired a new position in NerdWallet in the 3rd quarter valued at $135,000. Finally, TNF LLC purchased a new position in shares of NerdWallet during the 3rd quarter worth $178,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

NerdWallet Trading Down 4.8 %

Shares of NerdWallet stock traded down $0.72 during trading hours on Friday, reaching $14.28. The stock had a trading volume of 319,582 shares, compared to its average volume of 381,037. NerdWallet, Inc. has a 1 year low of $10.10 and a 1 year high of $17.30. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -101.99 and a beta of 1.32. The firm has a 50 day simple moving average of $13.85 and a two-hundred day simple moving average of $13.31.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The firm 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 company posted ($0.01) earnings per share. NerdWallet's revenue was up 25.2% compared to the same quarter last year. Sell-side analysts forecast that NerdWallet, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. KeyCorp lifted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Barclays raised their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.20.

Insider Activity at NerdWallet

In related news, CFO Lauren Stclair sold 11,856 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the transaction, the chief financial officer now directly owns 313,100 shares of the company's stock, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samuel Yount sold 3,003 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $13.45, for a total transaction of $40,390.35. Following the completion of the sale, the insider now directly owns 401,101 shares of the company's stock, valued at $5,394,808.45. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 822,353 shares of company stock worth $11,051,439. 45.93% of the stock is currently owned by corporate insiders.

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.