NerdWallet (NASDAQ:NRDS) Trading 4.8% Higher – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS)’s share price traded up 4.8% on Monday . The stock traded as high as $9.39 and last traded at $9.31. Approximately 455,438 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 578,049 shares. The stock had previously closed at $8.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer decreased their target price on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Weiss Ratings cut NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Finally, Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NerdWallet currently has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Stock Performance

The firm’s fifty day moving average is $8.80 and its two-hundred day moving average is $10.05. The company has a market cap of $632.34 million, a P/E ratio of 10.33 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS 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 company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that NerdWallet, Inc. will post 0.85 EPS for the current year.

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44. Following the sale, the insider directly owned 3,289,285 shares in the company, valued at approximately $30,491,671.95. The trade was a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,961,860 shares of company stock valued at $17,862,921 over the last quarter. Insiders own 52.75% of the company’s stock.

Institutional Trading of NerdWallet

A number of large investors have recently added to or reduced their stakes in the company. Covestor Ltd bought a new position in shares of NerdWallet during the 4th quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its position in NerdWallet by 37.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in NerdWallet during the first quarter valued at $41,000. Polymer Capital Management US LLC purchased a new stake in NerdWallet during the third quarter valued at $111,000. Finally, Moran Wealth Management LLC bought a new position in NerdWallet during the fourth quarter valued at $148,000. 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.