NerdWallet (NASDAQ:NRDS) Major Shareholder Sells $4,216,663.44 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 454,872 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total transaction of $4,216,663.44. Following the transaction, the insider owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. The trade was a 12.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The shares were sold at an average price of $9.22, for a total transaction of $5,419,838.70.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Stock Performance

NASDAQ NRDS opened at $9.47 on Friday. The firm has a market cap of $623.13 million, a PE ratio of 10.18 and a beta of 1.23. The firm’s fifty day moving average is $8.89 and its two-hundred day moving average is $10.64. NerdWallet, Inc. has a one year low of $7.33 and a one year high of $16.24.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $227.63 million. NerdWallet’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts predict that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP boosted its position in shares of NerdWallet by 286.0% during the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock valued at $755,000 after purchasing an additional 53,915 shares in the last quarter. Renaissance Technologies LLC grew its position in NerdWallet by 25.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after purchasing an additional 202,838 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in NerdWallet by 32.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after buying an additional 444,038 shares during the period. State of Wyoming increased its holdings in shares of NerdWallet by 5.8% in the 1st quarter. State of Wyoming now owns 59,142 shares of the company’s stock valued at $614,000 after purchasing an additional 3,263 shares during the period. Finally, First Trust Advisors LP increased its stake in NerdWallet by 2.5% in the 1st quarter. First Trust Advisors LP now owns 112,917 shares of the company’s stock valued at $1,172,000 after buying an additional 2,801 shares during the period. Institutional investors own 38.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NRDS. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. KeyCorp dropped their price objective on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Weiss Ratings lowered NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Citigroup reduced their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, Truist Financial decreased their target price on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.83.

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.