Dimensional Fund Advisors LP Grows Position in NerdWallet, Inc. (NASDAQ:NRDS)

Dimensional Fund Advisors LP lifted its position in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 12.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 769,831 shares of the company's stock after buying an additional 86,376 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.99% of NerdWallet worth $11,239,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Meeder Asset Management Inc. boosted its stake in NerdWallet by 126.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 16,841 shares of the company's stock worth $246,000 after purchasing an additional 9,401 shares during the period. Los Angeles Capital Management LLC bought a new position in NerdWallet during the second quarter valued at approximately $301,000. Rhumbline Advisers grew its holdings in NerdWallet by 17.6% during the 2nd quarter. Rhumbline Advisers now owns 52,373 shares of the company's stock valued at $765,000 after buying an additional 7,837 shares in the last quarter. Natixis Advisors LLC purchased a new position in NerdWallet during the 2nd quarter valued at approximately $250,000. Finally, Legato Capital Management LLC bought a new stake in NerdWallet in the 2nd quarter worth approximately $555,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NRDS shares. Truist Financial dropped their price target on NerdWallet from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Oppenheimer cut their target price on NerdWallet from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Finally, Barclays cut their price objective 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Insider Activity at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on 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 transaction, the vice president now directly owns 2,329,471 shares of the company's stock, valued at $27,976,946.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 45.93% of the stock is owned by company insiders.

NerdWallet Trading Down 3.4 %

Shares of NRDS stock traded down $0.44 during mid-day trading on Monday, reaching $12.55. The stock had a trading volume of 373,935 shares, compared to its average volume of 395,629. NerdWallet, Inc. has a 1-year low of $6.38 and a 1-year high of $17.30. The business's fifty day moving average is $12.45 and its 200-day moving average is $13.53. The firm has a market cap of $975.61 million, a price-to-earnings ratio of -73.82 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly 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 business had revenue of $150.60 million during 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%. NerdWallet's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, analysts forecast that NerdWallet, Inc. will post -0.01 earnings per share for the current year.

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.