Northern Trust Corp Has $4.38 Million Position in NerdWallet, Inc. (NASDAQ:NRDS)

Northern Trust Corp lessened its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 329,326 shares of the company’s stock after selling 22,535 shares during the period. Northern Trust Corp owned 0.45% of NerdWallet worth $4,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock worth $216,000 after buying an additional 2,364 shares during the last quarter. Rhumbline Advisers raised its holdings in NerdWallet by 1.5% in the 4th quarter. Rhumbline Advisers now owns 51,536 shares of the company’s stock worth $685,000 after acquiring an additional 769 shares during the period. Los Angeles Capital Management LLC raised its holdings in NerdWallet by 892.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company’s stock worth $2,875,000 after acquiring an additional 194,387 shares during the period. Versor Investments LP acquired a new position in NerdWallet during the 4th quarter worth $669,000. Finally, US Bancorp DE boosted its holdings in NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after acquiring an additional 2,800 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $10.49 on Thursday. The firm’s 50-day moving average is $9.31 and its 200-day moving average is $11.90. NerdWallet, Inc. has a 52-week low of $7.55 and a 52-week high of $16.45. The company has a market cap of $781.64 million, a price-to-earnings ratio of 26.23 and a beta of 1.41.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NRDS shares. Morgan Stanley lowered 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. KeyCorp lowered their target price on NerdWallet from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Citigroup dropped their price target on NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays upped their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.00.

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.