NerdWallet (NASDAQ:NRDS) Sets New 52-Week Low - What's Next?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.75 and last traded at $8.77, with a volume of 337003 shares traded. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NRDS. Morgan Stanley dropped their target price on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research 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 note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.00.

NerdWallet Stock Performance

The firm has a market capitalization of $675.12 million, a PE ratio of 22.78 and a beta of 1.39. The company has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $12.87.

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

Remove Ads

Insider Activity at NerdWallet

In related news, insider Samuel Yount sold 3,003 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $13.45, for a total value of $40,390.35. Following the transaction, the insider now directly owns 401,101 shares in the company, valued at approximately $5,394,808.45. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 45.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in shares of NerdWallet in the fourth quarter valued at $901,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NerdWallet by 69.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company's stock valued at $1,238,000 after buying an additional 38,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in NerdWallet by 3,417.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company's stock valued at $140,000 after buying an additional 10,218 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in NerdWallet by 52.8% in the fourth quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company's stock valued at $9,091,000 after buying an additional 236,320 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in NerdWallet by 325.8% in the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company's stock valued at $9,312,000 after buying 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.