Jane Street Group LLC Lowers Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Jane Street Group LLC cut its holdings in NerdWallet, Inc. (NASDAQ:NRDS) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,154 shares of the company’s stock after selling 14,898 shares during the period. Jane Street Group LLC owned 0.07% of NerdWallet worth $637,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NRDS. Basswood Capital Management L.L.C. purchased a new position in NerdWallet in the 3rd quarter worth approximately $6,446,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of NerdWallet by 346.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock worth $6,333,000 after acquiring an additional 386,646 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NerdWallet by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock worth $11,239,000 after acquiring an additional 86,376 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of NerdWallet by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after acquiring an additional 86,029 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of NerdWallet during the 3rd quarter worth approximately $890,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $13.67 on Friday. The stock’s fifty day moving average is $13.86 and its 200 day moving average is $13.35. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The firm has a market capitalization of $1.00 billion, a PE ratio of -97.64 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $191.30 million for the quarter, compared to the consensus estimate of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. NerdWallet’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. Equities analysts forecast that NerdWallet, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NRDS. KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays upped their price objective on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the transaction, the insider now owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the transaction, the chief financial officer now directly owns 313,100 shares in the company, valued at $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 822,353 shares of company stock valued at $11,051,439 in the last quarter. 45.93% of the stock is owned by insiders.

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.