NerdWallet (NASDAQ:NRDS) Hits New 1-Year Low - Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $9.76 and last traded at $9.71, with a volume of 16986 shares. The stock had previously closed at $10.09.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Barclays upped their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, NerdWallet currently has an average rating of "Moderate Buy" and an average target price of $17.00.

NerdWallet Stock Performance

The business's 50 day moving average price is $13.12 and its two-hundred day moving average price is $13.12. The company has a market capitalization of $696.62 million, a price-to-earnings ratio of 23.50 and a beta of 1.39.

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

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Insider Activity

In related news, insider Samuel Yount sold 76,185 shares of NerdWallet stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $13.40, for a total transaction of $1,020,879.00. Following the sale, the insider now directly owns 522,656 shares in the company, valued at $7,003,590.40. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 810,497 shares of company stock worth $10,884,981. Corporate insiders own 45.93% of the company's stock.

Institutional Investors Weigh In On NerdWallet

Several hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new stake in NerdWallet during the 4th quarter worth approximately $901,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NerdWallet by 69.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company's stock worth $1,238,000 after buying an additional 38,070 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company's stock worth $140,000 after buying an additional 10,218 shares during the period. Nuveen Asset Management LLC boosted its position in NerdWallet by 52.8% during the 4th quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company's stock worth $9,091,000 after buying an additional 236,320 shares during the period. Finally, Millennium Management LLC raised its holdings in NerdWallet by 325.8% during the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company's stock worth $9,312,000 after purchasing an additional 535,701 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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.