Norges Bank Makes New Investment in NerdWallet, Inc. (NASDAQ:NRDS)

Norges Bank purchased a new stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 284,600 shares of the company's stock, valued at approximately $3,785,000. Norges Bank owned 0.39% of NerdWallet at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of NerdWallet during the 4th quarter worth $80,000. US Bancorp DE increased its stake in shares of NerdWallet by 41.2% during the 4th quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after purchasing an additional 2,800 shares in the last quarter. AXQ Capital LP acquired a new position in shares of NerdWallet during the 4th quarter worth approximately $138,000. Bailard Inc. acquired a new stake in NerdWallet during the 4th quarter valued at $160,000. Finally, SG Americas Securities LLC raised its holdings in shares of NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after acquiring an additional 2,364 shares during the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Price Performance

NASDAQ:NRDS traded down $0.07 during trading hours on Wednesday, reaching $8.32. 18,380 shares of the company were exchanged, compared to its average volume of 534,989. NerdWallet, Inc. has a 52-week low of $7.55 and a 52-week high of $16.45. The firm has a market cap of $616.21 million, a price-to-earnings ratio of 20.79 and a beta of 1.41. The stock has a 50 day simple moving average of $10.02 and a 200 day simple moving average of $12.35.

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

Analyst Upgrades and Downgrades

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

NerdWallet 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.