Verition Fund Management LLC Takes Position in NerdWallet, Inc. (NASDAQ:NRDS)

Verition Fund Management LLC bought a new position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,590 shares of the company's stock, valued at approximately $516,000. Verition Fund Management LLC owned about 0.06% of NerdWallet as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NRDS shares. KeyCorp increased their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on shares of NerdWallet from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, NerdWallet currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded down $0.25 during trading hours on Thursday, hitting $13.54. The stock had a trading volume of 401,394 shares, compared to its average volume of 458,661. The company has a market capitalization of $994.36 million, a P/E ratio of -96.71 and a beta of 1.32. The firm's 50-day moving average price is $13.45 and its two-hundred day moving average price is $13.38. NerdWallet, Inc. has a 52 week low of $10.10 and a 52 week high of $17.30.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping 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 company had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. During the same quarter in the prior year, the business posted ($0.01) EPS. NerdWallet's quarterly revenue was up 25.2% on a year-over-year basis. As a group, analysts expect that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the acquisition, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lauren Stclair sold 11,856 shares of the firm'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 transaction, the chief financial officer now owns 313,100 shares in the company, valued at $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale 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.