NerdWallet, Inc. (NASDAQ:NRDS) Sees Significant Drop in Short Interest

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 2,280,000 shares, a drop of 20.3% from the February 13th total of 2,860,000 shares. Based on an average trading volume of 588,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 6.5% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms have commented on NRDS. Barclays upped their price target on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley reduced their target price on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

NerdWallet Stock Up 1.1 %

NRDS traded up $0.10 during trading on Friday, hitting $9.11. The company's stock had a trading volume of 731,981 shares, compared to its average volume of 511,315. The firm has a market capitalization of $675.12 million, a P/E ratio of 22.78 and a beta of 1.39. NerdWallet has a twelve month low of $8.75 and a twelve month high of $16.45. The stock's fifty day moving average price is $12.24 and its 200-day moving average price is $12.90.

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NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $183.80 million for the quarter, compared to analysts' expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. Equities research analysts expect that NerdWallet will post 0.36 EPS for the current fiscal year.

Insider Activity at NerdWallet

In other news, insider Samuel Yount sold 440,336 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the transaction, the insider now owns 254,237 shares of the company's stock, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 45.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versor Investments LP acquired a new position in NerdWallet during the 4th quarter valued at about $669,000. Verition Fund Management LLC bought a new stake in NerdWallet during the third quarter worth $516,000. Point72 Asset Management L.P. purchased a new stake in NerdWallet in the 3rd quarter valued at $890,000. Barclays PLC lifted its stake in NerdWallet by 374.6% during the 3rd quarter. Barclays PLC now owns 65,277 shares of the company's stock valued at $830,000 after acquiring an additional 51,524 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in NerdWallet by 41.2% during the 4th quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after acquiring an additional 2,800 shares during the last quarter. 38.81% of the stock is owned by institutional investors.

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.