Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Increases By 19.7%

NerdWallet, Inc. (NASDAQ:NRDS) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 2,365,416 shares, a growth of 19.7% from the December 31st total of 1,976,823 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average daily volume of 736,410 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 736,410 shares, the short-interest ratio is currently 3.2 days. Approximately 6.0% of the shares of the company are short sold.

NerdWallet Stock Down 4.0%

Shares of NASDAQ NRDS traded down $0.45 during mid-day trading on Wednesday, reaching $10.92. 1,776,837 shares of the company were exchanged, compared to its average volume of 789,695. The stock has a market capitalization of $794.03 million, a PE ratio of 11.38 and a beta of 1.43. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.24. The company’s 50 day moving average price is $13.82 and its 200 day moving average price is $12.17.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $215.10 million during the quarter, compared to analysts’ expectations of $193.31 million. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.NerdWallet’s revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts predict that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet announced that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NRDS shares. Barclays raised their price target on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research downgraded NerdWallet from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Truist Financial upped their price target on NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Morgan Stanley raised their price objective on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.40.

Insider Activity

In related news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the sale, the insider directly owned 358,116 shares in the company, valued at approximately $5,744,180.64. This represents a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 44,231 shares of company stock valued at $669,277 over the last 90 days. Insiders own 46.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NRDS. Tower Research Capital LLC TRC raised its holdings in NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after buying an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of NerdWallet in the third quarter worth about $111,000. Olympiad Research LP purchased a new position in NerdWallet during the 3rd quarter valued at about $119,000. Prelude Capital Management LLC bought a new position in NerdWallet during the 3rd quarter valued at approximately $119,000. Finally, Lazard Asset Management LLC bought a new stake in shares of NerdWallet in the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.