NerdWallet, Inc. (NASDAQ:NRDS) Given Average Recommendation of “Hold” by Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.40.

A number of equities research analysts have commented on the company. Zacks Research cut NerdWallet from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Barclays upped their target price on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. KeyCorp boosted their price objective on NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Truist Financial raised their price objective on NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Morgan Stanley boosted their price target 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.

Insider Activity

In other news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 32,102 shares of company stock valued at $495,348 over the last three months. Corporate insiders own 46.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of NerdWallet by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in NerdWallet by 26.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after buying an additional 234,691 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NerdWallet by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,055 shares of the company’s stock worth $11,988,000 after acquiring an additional 17,947 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in NerdWallet by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock valued at $10,926,000 after purchasing an additional 29,829 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of NerdWallet by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after buying an additional 81,986 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Trading Down 5.7%

NASDAQ NRDS opened at $9.68 on Thursday. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.24. The firm has a market capitalization of $703.83 million, a PE ratio of 10.08 and a beta of 1.43. The business’s 50-day moving average price is $13.21 and its two-hundred day moving average price is $12.14.

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

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.