Topline Capital Partners, Lp Sells 587,835 Shares of NerdWallet (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 587,835 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $9.22, for a total value of $5,419,838.70. Following the transaction, the insider owned 3,744,157 shares in the company, valued at approximately $34,521,127.54. This represents a 13.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The shares were sold at an average price of $9.27, for a total value of $4,216,663.44.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS traded down $0.14 during mid-day trading on Tuesday, hitting $9.25. 777,375 shares of the company traded hands, compared to its average volume of 938,484. The firm’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $10.75. The firm has a market cap of $608.64 million, a P/E ratio of 9.95 and a beta of 1.25. NerdWallet, Inc. has a 52-week low of $7.33 and a 52-week high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $227.63 million. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that NerdWallet, Inc. will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NRDS. Wall Street Zen lowered shares of NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer cut their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Truist Financial decreased their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $14.00 to $9.00 in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NerdWallet currently has an average rating of “Hold” and an average target price of $12.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. OP Asset Management Ltd bought a new stake in shares of NerdWallet in the 1st quarter worth about $6,957,000. Millennium Management LLC lifted its position in shares of NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after purchasing an additional 497,978 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of NerdWallet by 32.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after purchasing an additional 444,038 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of NerdWallet during the first quarter worth about $2,903,000. Finally, Tudor Investment Corp ET AL acquired a new position in NerdWallet in the third quarter worth about $2,812,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.