Vanguard Group Inc. Raises Stake in NerdWallet, Inc. (NASDAQ:NRDS)

Vanguard Group Inc. lifted its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,526,688 shares of the company’s stock after purchasing an additional 187,422 shares during the period. Vanguard Group Inc.’s holdings in NerdWallet were worth $31,352,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NRDS. JPMorgan Chase & Co. grew its stake in NerdWallet by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 15,223 shares of the company’s stock worth $146,000 after acquiring an additional 1,224 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of NerdWallet by 5.7% in the first quarter. Rhumbline Advisers now owns 34,546 shares of the company’s stock valued at $559,000 after purchasing an additional 1,878 shares during the period. Legal & General Group Plc boosted its holdings in shares of NerdWallet by 10.1% in the third quarter. Legal & General Group Plc now owns 26,022 shares of the company’s stock valued at $231,000 after purchasing an additional 2,379 shares during the period. Deutsche Bank AG grew its stake in NerdWallet by 17.8% in the third quarter. Deutsche Bank AG now owns 16,737 shares of the company’s stock worth $149,000 after purchasing an additional 2,531 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in NerdWallet by 29.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,050 shares of the company’s stock worth $132,000 after purchasing an additional 3,220 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

Insider Transactions at NerdWallet

In related news, VP Samuel Yount sold 6,309 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $16.16, for a total transaction of $101,953.44. Following the transaction, the vice president now directly owns 2,350,242 shares in the company, valued at approximately $37,979,910.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 49.56% of the company’s stock.

Analyst Upgrades and Downgrades

NRDS has been the subject of several research reports. Citigroup upped their target price on NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Truist Financial lowered their price objective on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. TheStreet raised shares of NerdWallet from a “d+” rating to a “c-” rating in a research report on Thursday, December 21st. Barclays boosted their price target on shares of NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, NerdWallet presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $14.15 on Friday. The company’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $13.15. NerdWallet, Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The stock has a market capitalization of $1.09 billion, a P/E ratio of -88.43 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The firm had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $138.43 million. During the same period in the previous year, the company earned $0.12 EPS. The company’s revenue was down 5.8% on a year-over-year basis. On average, research analysts forecast that NerdWallet, Inc. will post 0.22 EPS for the current year.

NerdWallet Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.