Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,389 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 57.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,769 shares of the company’s stock after acquiring an additional 5,389 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NerdWallet were worth $134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. RHS Financial LLC purchased a new stake in shares of NerdWallet during the 1st quarter valued at $100,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in NerdWallet by 3,417.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after acquiring an additional 10,218 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of NerdWallet by 34.7% during the 4th quarter. Wells Fargo & Company MN now owns 16,394 shares of the company’s stock valued at $218,000 after purchasing an additional 4,225 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of NerdWallet by 28.0% during the 1st quarter. Vontobel Holding Ltd. now owns 25,549 shares of the company’s stock valued at $231,000 after purchasing an additional 5,589 shares in the last quarter. Finally, Bailard Inc. boosted its stake in shares of NerdWallet by 117.5% during the 1st quarter. Bailard Inc. now owns 26,100 shares of the company’s stock valued at $236,000 after purchasing an additional 14,100 shares in the last quarter. 38.81% of the stock is owned by institutional investors.

NerdWallet Stock Down 17.1%

NRDS opened at $9.18 on Monday. The firm has a 50 day moving average price of $10.83 and a 200-day moving average price of $10.61. The stock has a market capitalization of $684.00 million, a price-to-earnings ratio of 14.81 and a beta of 1.45. NerdWallet, Inc. has a twelve month low of $7.55 and a twelve month high of $16.45.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. NerdWallet had a net margin of 6.11% and a return on equity of 2.61%. The business had revenue of $186.90 million during the quarter, compared to analyst estimates of $195.32 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. As a group, analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NRDS. Citigroup cut their target price on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Barclays dropped their price objective on shares of NerdWallet from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, KeyCorp decreased their target price on shares of NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, May 5th.

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.