Point72 Asset Management L.P. Purchases Shares of 70,000 NerdWallet, Inc. (NASDAQ:NRDS)

Point72 Asset Management L.P. bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 70,000 shares of the company's stock, valued at approximately $890,000. Point72 Asset Management L.P. owned about 0.10% of NerdWallet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of NerdWallet by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company's stock valued at $11,239,000 after purchasing an additional 86,376 shares in the last quarter. Legato Capital Management LLC acquired a new stake in NerdWallet in the second quarter valued at $555,000. Cubist Systematic Strategies LLC boosted its stake in NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company's stock valued at $229,000 after acquiring an additional 1,561 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company's stock worth $219,000 after acquiring an additional 2,172 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of NerdWallet by 45.5% in the 2nd quarter. Squarepoint Ops LLC now owns 21,042 shares of the company's stock worth $307,000 after purchasing an additional 6,585 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company's stock.

NerdWallet Price Performance

NRDS stock traded down $0.73 on Wednesday, reaching $13.71. The company's stock had a trading volume of 179,648 shares, compared to its average volume of 457,592. NerdWallet, Inc. has a 52 week low of $10.10 and a 52 week high of $17.30. The company has a market capitalization of $1.01 billion, a P/E ratio of -103.14 and a beta of 1.32. The firm has a fifty day moving average of $13.42 and a two-hundred day moving average of $13.38.

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

Analyst Ratings Changes

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

Insider Buying and Selling at NerdWallet

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

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.