NerdWallet (NASDAQ:NRDS) Shares Gap Up Following Analyst Upgrade

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $16.00 to $17.00. The stock had previously closed at $11.32, but opened at $14.50. Barclays currently has an overweight rating on the stock. NerdWallet shares last traded at $13.75, with a volume of 930,766 shares changing hands.

NRDS has been the topic of several other research reports. Oppenheimer cut their target price on shares of NerdWallet from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Truist Financial reduced their target price on shares of NerdWallet from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, NerdWallet presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Activity

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the sale, the vice president now directly owns 2,329,471 shares of the company's stock, valued at approximately $27,976,946.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Samuel Yount sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now owns 2,329,471 shares in the company, valued at $27,976,946.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll purchased 49,722 shares of NerdWallet stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the completion of the transaction, the insider now owns 4,839,090 shares of the company's stock, valued at approximately $58,311,034.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its stake in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company's stock valued at $13,621,000 after acquiring an additional 481,958 shares during the last quarter. Vanguard Group Inc. increased its stake in NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company's stock valued at $58,880,000 after purchasing an additional 432,262 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NerdWallet by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company's stock valued at $11,239,000 after acquiring an additional 86,376 shares during the period. Renaissance Technologies LLC grew its position in shares of NerdWallet by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 251,000 shares of the company's stock valued at $3,665,000 after purchasing an additional 39,800 shares during the period. Finally, Legato Capital Management LLC bought a new stake in NerdWallet during the 2nd quarter worth approximately $555,000. 38.81% of the stock is currently owned by institutional investors.

NerdWallet Stock Performance

The firm's fifty day simple moving average is $12.35 and its 200 day simple moving average is $13.22. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -98.13 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Analysts forecast that NerdWallet, Inc. will post -0.01 earnings per share for the current year.

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.

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