NerdWallet (NASDAQ:NRDS) Reaches New 1-Year Low - Here's Why

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $9.03 and last traded at $9.09, with a volume of 107532 shares trading hands. The stock had previously closed at $9.40.

Analysts Set New Price Targets

A number of research firms have issued reports on NRDS. Morgan Stanley lowered their target price on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Barclays lifted their target price on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, NerdWallet presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

NerdWallet Stock Performance

The stock has a market cap of $674.31 million, a price-to-earnings ratio of 22.73 and a beta of 1.39. The company has a 50-day simple moving average of $13.12 and a two-hundred day simple moving average of $13.13.

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

Insider Buying and Selling

In related news, insider Samuel Yount sold 65,167 shares of NerdWallet stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $13.79, for a total transaction of $898,652.93. Following the completion of the sale, the insider now owns 581,419 shares of the company's stock, valued at approximately $8,017,768.01. The trade was a 10.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 810,497 shares of company stock valued at $10,884,981. 45.93% of the stock is owned by insiders.

Institutional Investors Weigh In On NerdWallet

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in NerdWallet by 1.5% in the 4th quarter. Rhumbline Advisers now owns 51,536 shares of the company's stock valued at $685,000 after purchasing an additional 769 shares during the period. Los Angeles Capital Management LLC raised its stake in NerdWallet by 5.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company's stock worth $277,000 after purchasing an additional 1,190 shares in the last quarter. American Century Companies Inc. boosted its holdings in NerdWallet by 8.0% in the 4th quarter. American Century Companies Inc. now owns 21,237 shares of the company's stock valued at $282,000 after purchasing an additional 1,576 shares during the period. Swiss National Bank boosted its holdings in NerdWallet by 2.1% in the 4th quarter. Swiss National Bank now owns 78,600 shares of the company's stock valued at $1,045,000 after purchasing an additional 1,600 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of NerdWallet by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after purchasing an additional 2,364 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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