NerdWallet (NASDAQ:NRDS) Shares Down 6% - What's Next?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s stock price dropped 6% during mid-day trading on Tuesday . The stock traded as low as $11.36 and last traded at $11.39. Approximately 218,829 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 397,586 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several research firms have recently commented on NRDS. Oppenheimer decreased their target price on NerdWallet from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Truist Financial decreased their target price on NerdWallet from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Finally, Barclays decreased their target price on NerdWallet from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, NerdWallet has an average rating of "Moderate Buy" and an average price target of $16.00.

NerdWallet Price Performance

The firm has a market cap of $856.67 million, a price-to-earnings ratio of -64.82 and a beta of 1.42. The stock has a 50-day moving average of $12.40 and a 200-day moving average of $13.32.

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 analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities analysts expect that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 2,329,471 shares in the company, valued at $27,976,946.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 45.93% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NRDS. Steamboat Capital Partners LLC lifted its stake in shares of NerdWallet by 1.7% in the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company's stock valued at $3,558,000 after acquiring an additional 4,030 shares during the last quarter. Lord Abbett & CO. LLC lifted 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. lifted its stake in shares of NerdWallet by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company's stock valued at $58,880,000 after acquiring an additional 432,262 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of NerdWallet in the 2nd quarter valued at $445,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of NerdWallet by 27.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company's stock valued at $1,794,000 after acquiring an additional 26,572 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors.

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.