NerdWallet (NASDAQ:NRDS) Sets New 1-Year Low After Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $15.00 to $12.00. Morgan Stanley currently has an equal weight rating on the stock. NerdWallet traded as low as $9.99 and last traded at $10.31, with a volume of 281691 shares. The stock had previously closed at $10.33.

Other equities research analysts have also recently issued reports about the stock. Barclays raised their target price 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. KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, NerdWallet presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Insiders Place Their Bets

In other NerdWallet news, CFO Lauren Stclair sold 11,856 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the transaction, the chief financial officer now directly owns 313,100 shares of the company's stock, valued at $4,395,924. This represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the completion of the sale, the insider now owns 254,237 shares of the company's stock, valued at approximately $3,429,657.13. This trade represents a 63.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 822,353 shares of company stock worth $11,051,439 in the last 90 days. 45.93% of the stock is owned by company insiders.

Remove Ads

Institutional Investors Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently modified their holdings of NRDS. KLP Kapitalforvaltning AS acquired a new position in NerdWallet in the fourth quarter worth about $80,000. US Bancorp DE acquired a new position in shares of NerdWallet in the 3rd quarter worth approximately $86,000. Intech Investment Management LLC acquired a new position in shares of NerdWallet in the 3rd quarter worth approximately $135,000. AXQ Capital LP bought a new stake in shares of NerdWallet in the 4th quarter valued at approximately $138,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of NerdWallet by 3,417.4% during the 4th 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. Institutional investors own 38.81% of the company's stock.

NerdWallet Stock Down 2.2 %

The stock has a market capitalization of $732.92 million, a P/E ratio of 24.95 and a beta of 1.33. The company has a 50 day moving average of $13.57 and a 200-day moving average of $13.21.

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 analysts' consensus estimates of $0.01. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. Equities analysts forecast that NerdWallet, Inc. will post 0.36 EPS 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.