Renaissance Technologies LLC Buys 246,009 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Renaissance Technologies LLC grew its position in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 49.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 742,909 shares of the company's stock after acquiring an additional 246,009 shares during the quarter. Renaissance Technologies LLC owned about 1.01% of NerdWallet worth $9,881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NRDS. Geode Capital Management LLC lifted its position in NerdWallet by 2.1% during the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company's stock valued at $11,751,000 after purchasing an additional 19,330 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after buying an additional 555,329 shares in the last quarter. State Street Corp lifted its holdings in shares of NerdWallet by 3.7% in the 3rd quarter. State Street Corp now owns 799,521 shares of the company's stock valued at $10,162,000 after acquiring an additional 28,785 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in NerdWallet by 153.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock worth $10,197,000 after acquiring an additional 463,758 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in NerdWallet by 66.7% during the fourth quarter. Trexquant Investment LP now owns 341,251 shares of the company's stock worth $4,539,000 after acquiring an additional 136,517 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

NASDAQ NRDS traded up $0.28 during trading on Tuesday, hitting $8.70. The stock had a trading volume of 340,021 shares, compared to its average volume of 537,886. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.45. The stock has a 50 day simple moving average of $9.50 and a 200 day simple moving average of $12.20. The stock has a market capitalization of $644.74 million, a price-to-earnings ratio of 21.75 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued 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 firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. On average, sell-side analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Morgan Stanley lowered their price target on 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

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.