Brokerages Set NerdWallet, Inc. (NASDAQ:NRDS) PT at $14.33

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.3333.

A number of brokerages recently weighed in on NRDS. Wall Street Zen upgraded shares of NerdWallet from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 12th. Oppenheimer cut their price target on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Truist Financial cut their price target on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley downgraded shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Finally, Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th.

NerdWallet Trading Down 2.6%

Shares of NASDAQ NRDS opened at $10.46 on Tuesday. The firm has a market capitalization of $698.62 million, a PE ratio of 16.34 and a beta of 1.42. The firm’s 50-day moving average is $10.44 and its 200-day moving average is $12.06. NerdWallet has a 1 year low of $8.34 and a 1 year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. NerdWallet’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. As a group, equities research analysts anticipate that NerdWallet will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of $116,228.95. Following the sale, the chief accounting officer directly owned 47,202 shares in the company, valued at $540,462.90. This trade represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the sale, the insider owned 173,973 shares in the company, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,043 shares of company stock worth $901,317 over the last quarter. 46.54% of the stock is currently owned by corporate insiders.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of NRDS. OP Asset Management Ltd acquired a new stake in NerdWallet during the 1st quarter worth approximately $6,957,000. Millennium Management LLC raised its holdings in NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after buying an additional 497,978 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of NerdWallet during the 3rd quarter worth approximately $2,812,000. Nuveen LLC grew its stake in shares of NerdWallet by 296.1% during the 4th quarter. Nuveen LLC now owns 330,631 shares of the company’s stock worth $4,480,000 after acquiring an additional 247,157 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of NerdWallet by 26.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after acquiring an additional 234,691 shares in the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

About NerdWallet

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.