Insider Buying: NerdWallet, Inc. (NASDAQ:NRDS) Insider Buys 49,722 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) insider Topline Capital Management, Ll purchased 49,722 shares of the firm's stock in a transaction on Monday, October 21st. The stock was acquired at an average cost of $12.05 per share, for a total transaction of $599,150.10. Following the completion of the purchase, the insider now owns 4,839,090 shares in the company, valued at $58,311,034.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

NerdWallet Stock Down 0.1 %

Shares of NASDAQ NRDS traded down $0.01 during midday trading on Wednesday, hitting $11.01. The stock had a trading volume of 900,677 shares, compared to its average volume of 404,306. The company has a market capitalization of $855.90 million, a price-to-earnings ratio of -64.59 and a beta of 1.42. NerdWallet, Inc. has a 1-year low of $6.38 and a 1-year high of $17.30. The company has a fifty day moving average price of $12.40 and a 200 day moving average price of $13.32.

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

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in NerdWallet during the 2nd quarter worth approximately $31,000. nVerses Capital LLC purchased a new stake in NerdWallet during the 3rd quarter worth approximately $62,000. Algert Global LLC purchased a new stake in NerdWallet during the 2nd quarter worth approximately $196,000. The Manufacturers Life Insurance Company increased its holdings in NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company's stock worth $219,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company's stock worth $229,000 after purchasing an additional 1,561 shares during the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays decreased their price target on NerdWallet from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, August 1st. Truist Financial reduced their price objective on NerdWallet from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer reduced their price objective on NerdWallet from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. 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, NerdWallet has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

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.