Geode Capital Management LLC Cuts Stake in NerdWallet, Inc. (NASDAQ:NRDS)

Geode Capital Management LLC decreased its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 825,884 shares of the company’s stock after selling 98,539 shares during the period. Geode Capital Management LLC owned approximately 1.12% of NerdWallet worth $10,987,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Versor Investments LP acquired a new stake in NerdWallet during the 4th quarter valued at $669,000. US Bancorp DE boosted its position in NerdWallet by 41.2% in the 4th quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after buying an additional 2,800 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of NerdWallet by 556.8% during the fourth quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company’s stock valued at $3,206,000 after acquiring an additional 204,326 shares in the last quarter. Barclays PLC increased its position in shares of NerdWallet by 374.6% during the third quarter. Barclays PLC now owns 65,277 shares of the company’s stock worth $830,000 after acquiring an additional 51,524 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NerdWallet in the fourth quarter worth about $3,785,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays increased their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Trading Up 3.3 %

Shares of NerdWallet stock opened at $8.70 on Wednesday. The stock has a market capitalization of $644.74 million, a price-to-earnings ratio of 21.75 and a beta of 1.41. NerdWallet, Inc. has a twelve month low of $7.55 and a twelve month high of $16.45. The business’s 50 day simple moving average is $9.50 and its 200-day simple moving average is $12.20.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. Sell-side analysts predict that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

About NerdWallet

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.