Insider Selling: NerdWallet (NASDAQ:NRDS) CAO Sells $116,228.95 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the sale, the chief accounting officer owned 47,202 shares of the company’s stock, valued at approximately $540,462.90. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Nicholas Tatum also recently made the following trade(s):

• On Wednesday, March 4th, Nicholas Tatum sold 893 shares of NerdWallet stock. The stock was sold at an average price of $11.45, for a total value of $10,224.85.

NerdWallet Price Performance

NASDAQ NRDS opened at $11.16 on Monday. NerdWallet, Inc. has a 1-year low of $7.55 and a 1-year high of $16.24. The company has a market capitalization of $745.38 million, a P/E ratio of 17.44 and a beta of 1.44. The business has a 50 day moving average price of $11.78 and a 200 day moving average price of $12.14.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.NerdWallet’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, research analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

NerdWallet declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Oppenheimer decreased their price objective on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Truist Financial reduced their price target on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley increased their price target 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. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of NerdWallet by 80.6% during the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock worth $366,000 after acquiring an additional 18,047 shares during the period. Millennium Management LLC grew its holdings in NerdWallet by 23.9% in the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after purchasing an additional 166,984 shares during the period. Los Angeles Capital Management LLC increased its position in NerdWallet by 64.8% during the second quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock worth $2,581,000 after purchasing an additional 92,487 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in NerdWallet by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock worth $10,926,000 after purchasing an additional 29,829 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in NerdWallet by 9.7% during the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock worth $10,154,000 after purchasing an additional 81,986 shares during the period. Institutional investors and hedge funds 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.