Insider Selling: NerdWallet (NASDAQ:NRDS) CAO Sells 893 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS) CAO Nicholas Tatum sold 893 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $11.45, for a total value of $10,224.85. Following the transaction, the chief accounting officer directly owned 57,948 shares in the company, valued at $663,504.60. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Nicholas Tatum also recently made the following trade(s):

• On Thursday, March 5th, Nicholas Tatum sold 10,151 shares of NerdWallet stock. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95.

NerdWallet Trading Down 1.5%

NRDS traded down $0.17 on Friday, reaching $11.16. The company had a trading volume of 976,076 shares, compared to its average volume of 1,214,935. The company has a market capitalization of $745.38 million, a P/E ratio of 17.44 and a beta of 1.44. The company has a fifty day moving average of $11.78 and a 200-day moving average of $12.11. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company 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 was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Research analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current year.

NerdWallet announced that its Board of Directors 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 buy up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NRDS. Barclays increased their price target on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. KeyCorp upped their price objective on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Morgan Stanley lifted their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Truist Financial dropped 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. Finally, Zacks Research downgraded shares of NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.17.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new position in NerdWallet during the 2nd quarter worth approximately $1,046,000. Walleye Capital LLC purchased a new stake in shares of NerdWallet in the second quarter valued at $948,000. Los Angeles Capital Management LLC boosted its position in shares of NerdWallet by 64.8% in the second quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock worth $2,581,000 after buying an additional 92,487 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of NerdWallet by 3.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock worth $10,926,000 after buying an additional 29,829 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of NerdWallet by 9.7% during the second 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. 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.