NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 3,432,410 shares, an increase of 45.1% from the January 15th total of 2,365,416 shares. Based on an average daily volume of 714,854 shares, the short-interest ratio is presently 4.8 days. Approximately 8.7% of the company’s shares are sold short. Approximately 8.7% of the company’s shares are sold short. Based on an average daily volume of 714,854 shares, the short-interest ratio is presently 4.8 days.

NerdWallet Stock Performance

Shares of NRDS stock opened at $9.41 on Friday. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The stock’s fifty day moving average price is $12.97 and its two-hundred day moving average price is $12.12. The company has a market cap of $684.20 million, a PE ratio of 9.80 and a beta of 1.43.

NerdWallet announced that its board has authorized a share repurchase program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NRDS shares. Truist Financial boosted their price target on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, November 10th. KeyCorp raised their price target on shares of NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Zacks Research downgraded NerdWallet from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Morgan Stanley boosted their target price on shares of NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Finally, Barclays upped their price objective on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.40.

Insider Activity

In other news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total value of $255,757.80. Following the completion of the sale, the insider directly owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 31,581 shares of company stock worth $487,923. 46.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NerdWallet

Large investors have recently modified their holdings of the business. Covestor Ltd bought a new stake in NerdWallet in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC boosted its position in shares of NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC bought a new position in NerdWallet in the third quarter worth approximately $111,000. Olympiad Research LP acquired a new stake in NerdWallet in the 3rd quarter valued at $119,000. Finally, Prelude Capital Management LLC acquired a new position in shares of NerdWallet during the third quarter valued at about $119,000. Institutional investors own 38.81% of the company’s stock.

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.