Janus Henderson Group PLC Cuts Holdings in NerdWallet, Inc. $NRDS

Janus Henderson Group PLC lowered its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 82.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,400 shares of the company’s stock after selling 88,582 shares during the period. Janus Henderson Group PLC’s holdings in NerdWallet were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. OP Asset Management Ltd acquired a new position in shares of NerdWallet during the first quarter worth about $6,957,000. Millennium Management LLC raised its holdings in NerdWallet by 1,231.3% in the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after acquiring an additional 497,978 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after acquiring an additional 444,038 shares in the last quarter. Principal Financial Group Inc. purchased a new position in NerdWallet in the first quarter worth approximately $2,903,000. Finally, Nuveen LLC lifted its stake in NerdWallet by 296.1% in the fourth quarter. Nuveen LLC now owns 330,631 shares of the company’s stock worth $4,480,000 after acquiring an additional 247,157 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NRDS. Citigroup dropped their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. KeyCorp dropped their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Truist Financial decreased their price target on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.83.

NerdWallet Trading Down 0.2%

NRDS stock opened at $9.78 on Wednesday. The stock has a market cap of $643.52 million, a P/E ratio of 10.99 and a beta of 1.23. NerdWallet, Inc. has a twelve month low of $7.33 and a twelve month high of $16.24. The company’s 50 day moving average is $8.98 and its two-hundred day moving average is $9.79.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The company had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that NerdWallet, Inc. will post 0.87 earnings per share for the current year.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the sale, the insider owned 4,331,992 shares in the company, valued at approximately $38,771,328.40. The trade was a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,961,860 shares of company stock worth $17,862,921 over the last 90 days. Company insiders own 52.75% 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.