670,186 Shares in NerdWallet, Inc. $NRDS Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 670,186 shares of the company’s stock, valued at approximately $6,957,000. OP Asset Management Ltd owned approximately 1.00% of NerdWallet at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of NerdWallet by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock worth $42,977,000 after acquiring an additional 48,205 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NerdWallet by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company’s stock valued at $15,842,000 after purchasing an additional 55,003 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of NerdWallet by 26.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after purchasing an additional 234,691 shares during the period. State Street Corp grew its stake in NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock worth $12,495,000 after purchasing an additional 28,844 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in NerdWallet by 23.9% during the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after purchasing an additional 166,984 shares during the period. 38.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NRDS. Oppenheimer decreased their target price on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Weiss Ratings lowered NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $14.00 to $9.00 in a research note on Friday, March 13th. KeyCorp dropped their target price on shares of 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 cut their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Four 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Trading Down 1.3%

Shares of NASDAQ NRDS opened at $8.51 on Friday. NerdWallet, Inc. has a 12-month low of $7.33 and a 12-month high of $16.24. The stock’s fifty day simple moving average is $9.05 and its two-hundred day simple moving average is $10.83. The stock has a market capitalization of $559.96 million, a PE ratio of 9.15 and a beta of 1.25.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The firm had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. NerdWallet’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts predict that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

About NerdWallet

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.