PDT Partners LLC Sells 37,073 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

PDT Partners LLC cut its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 56.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,570 shares of the company's stock after selling 37,073 shares during the quarter. PDT Partners LLC's holdings in NerdWallet were worth $363,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company's stock valued at $58,880,000 after acquiring an additional 432,262 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company's stock valued at $11,239,000 after acquiring an additional 86,376 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NerdWallet by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company's stock valued at $4,488,000 after acquiring an additional 86,029 shares in the last quarter. Verition Fund Management LLC bought a new stake in NerdWallet in the third quarter valued at $516,000. Finally, Renaissance Technologies LLC boosted its holdings in NerdWallet by 18.8% in the second quarter. Renaissance Technologies LLC now owns 251,000 shares of the company's stock valued at $3,665,000 after acquiring an additional 39,800 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Topline Capital Management, Ll bought 49,722 shares of NerdWallet stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average cost of $12.05 per share, with a total value of $599,150.10. Following the acquisition, the insider now owns 4,839,090 shares of the company's stock, valued at $58,311,034.50. The trade was a 1.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now directly owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 8.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 45.93% of the company's stock.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded down $0.06 during midday trading on Wednesday, hitting $14.04. 307,318 shares of the company's stock traded hands, compared to its average volume of 458,521. NerdWallet, Inc. has a 1 year low of $10.10 and a 1 year high of $17.30. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -100.71 and a beta of 1.31. The firm has a fifty day moving average of $13.29 and a 200 day moving average of $13.38.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The firm had revenue of $191.30 million during the quarter, compared to analyst estimates of $168.25 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business's revenue for the quarter was up 25.2% compared to the same quarter last year. On average, equities analysts anticipate that NerdWallet, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NRDS. Barclays boosted their target price on shares of NerdWallet from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. KeyCorp boosted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.00.

About NerdWallet

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.