NerdWallet (NASDAQ:NRDS) Trading Down 6.9% - Here's Why

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s stock price dropped 6.9% during trading on Friday . The stock traded as low as $10.75 and last traded at $10.59. Approximately 288,437 shares traded hands during trading, a decline of 40% from the average daily volume of 479,813 shares. The stock had previously closed at $11.38.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. KeyCorp upped their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Barclays upped their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Morgan Stanley dropped their price objective on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday. One 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 has an average rating of "Moderate Buy" and an average price target of $17.00.

NerdWallet Stock Performance

The stock's 50 day simple moving average is $13.68 and its 200 day simple moving average is $13.24. The firm has a market cap of $769.65 million, a PE ratio of 26.20 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its 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 company had revenue of $183.80 million during 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, analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Remove Ads

Insider Transactions at NerdWallet

In other news, insider Samuel Yount sold 65,167 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $13.79, for a total value of $898,652.93. Following the completion of the sale, the insider now directly owns 581,419 shares in the company, valued at approximately $8,017,768.01. The trade was a 10.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the company's stock in a transaction on 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 $4,395,924. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 822,353 shares of company stock worth $11,051,439. 45.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NRDS. Topline Capital Management LLC bought a new stake in shares of NerdWallet in the 4th quarter valued at about $69,840,000. Geode Capital Management LLC increased its stake in NerdWallet by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 924,423 shares of the company's stock worth $11,751,000 after purchasing an additional 19,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in shares of NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock valued at $11,887,000 after purchasing an additional 867,681 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NerdWallet by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company's stock worth $11,537,000 after purchasing an additional 64,366 shares during the last quarter. 38.81% of the stock is owned by institutional investors.

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.