NerdWallet, Inc. $NRDS Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lowered its holdings in NerdWallet, Inc. (NASDAQ:NRDS) by 51.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,106 shares of the company’s stock after selling 53,561 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.07% of NerdWallet worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after purchasing an additional 166,984 shares during the period. Kent Lake PR LLC raised its holdings in shares of NerdWallet by 115.6% in the second quarter. Kent Lake PR LLC now owns 275,000 shares of the company’s stock valued at $3,017,000 after buying an additional 147,466 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of NerdWallet during the third quarter valued at approximately $1,249,000. Prudential Financial Inc. acquired a new stake in shares of NerdWallet in the 2nd quarter valued at $1,046,000. Finally, Los Angeles Capital Management LLC lifted its position in NerdWallet by 64.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock valued at $2,581,000 after purchasing an additional 92,487 shares during the period. 38.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at $540,462.90. This represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 45.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NRDS shares. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Oppenheimer dropped their price objective on NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Truist Financial decreased their target price on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NerdWallet currently has an average rating of “Hold” and an average price target of $15.17.

NerdWallet Stock Down 2.4%

NRDS stock opened at $10.55 on Wednesday. NerdWallet, Inc. has a 12 month low of $7.55 and a 12 month high of $16.24. The firm has a market cap of $704.63 million, a P/E ratio of 16.48 and a beta of 1.44. The company’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $12.15.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The company had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same period in the previous year, the business posted $0.51 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current year.

NerdWallet declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.