NerdWallet (NASDAQ:NRDS) Stock Price Up 4.1%

NerdWallet, Inc. (NASDAQ:NRDS)’s share price rose 4.1% during trading on Friday . The stock traded as high as $13.81 and last traded at $13.80. Approximately 167,809 shares changed hands during trading, a decline of 50% from the average daily volume of 332,430 shares. The stock had previously closed at $13.26.

Analyst Upgrades and Downgrades

NRDS has been the subject of several recent analyst reports. Barclays boosted their target price on NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Truist Financial reduced their target price on NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup boosted their target price on NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, KeyCorp boosted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report 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 MarketBeat.com, NerdWallet presently has an average rating of “Moderate Buy” and an average price target of $16.50.

NerdWallet Price Performance

The company has a 50 day simple moving average of $15.30 and a 200-day simple moving average of $13.35. The stock has a market cap of $1.03 billion, a P/E ratio of -83.18 and a beta of 1.39.

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

Insider Activity

In other news, VP Samuel Yount sold 6,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the completion of the sale, the vice president now owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 45.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of NerdWallet by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 38,220 shares of the company’s stock valued at $563,000 after acquiring an additional 809 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of NerdWallet by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 89,098 shares of the company’s stock valued at $1,312,000 after acquiring an additional 939 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of NerdWallet by 2.7% in the 4th quarter. Trexquant Investment LP now owns 42,959 shares of the company’s stock valued at $632,000 after acquiring an additional 1,133 shares during the last quarter. JPMorgan Chase & Co. raised its position in NerdWallet by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 15,223 shares of the company’s stock valued at $146,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Rhumbline Advisers raised its position in NerdWallet by 5.7% during the 1st 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 last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Company 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.