NerdWallet (NASDAQ:NRDS) Sees Strong Trading Volume on Analyst Upgrade

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $17.00 to $19.00. Barclays currently has an overweight rating on the stock. 624,750 shares traded hands during trading, an increase of 67% from the previous session's volume of 373,900 shares.The stock last traded at $11.85 and had previously closed at $13.98.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. KeyCorp upped their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.60.

Insider Buying and Selling

In other NerdWallet news, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the sale, the chief financial officer now directly owns 313,100 shares of the company's stock, valued at approximately $4,395,924. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 440,336 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the sale, the insider now directly owns 254,237 shares of the company's stock, valued at approximately $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 822,353 shares of company stock valued at $11,051,439 over the last three months. 45.93% of the stock is owned by company insiders.

Institutional Trading of NerdWallet

Hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of NerdWallet during the fourth quarter valued at about $80,000. US Bancorp DE acquired a new position in shares of NerdWallet during the third quarter valued at about $86,000. AXQ Capital LP acquired a new position in shares of NerdWallet during the fourth quarter valued at about $138,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of NerdWallet by 3,417.4% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company's stock valued at $140,000 after acquiring an additional 10,218 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of NerdWallet during the third quarter valued at about $135,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

The stock has a market cap of $758.64 million, a price-to-earnings ratio of 25.83 and a beta of 1.33. The company's fifty day moving average price is $13.74 and its 200-day moving average price is $13.21.

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