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

NerdWallet, Inc. (NASDAQ:NRDS) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 5,818,108 shares, a growth of 26.1% from the February 12th total of 4,615,484 shares. Based on an average daily trading volume, of 1,269,247 shares, the short-interest ratio is presently 4.6 days. Approximately 16.1% of the shares of the stock are sold short. Approximately 16.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,269,247 shares, the short-interest ratio is presently 4.6 days.

Insider Buying and Selling at NerdWallet

In related news, CAO Nicholas Tatum sold 10,151 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the transaction, the chief accounting officer owned 47,202 shares of the company’s stock, valued at $540,462.90. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 45.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NerdWallet

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRDS. Invesco Ltd. raised its stake in NerdWallet by 27.7% during the 4th quarter. Invesco Ltd. now owns 103,226 shares of the company’s stock valued at $1,399,000 after purchasing an additional 22,406 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of NerdWallet in the fourth quarter worth $310,000. XTX Topco Ltd grew its holdings in shares of NerdWallet by 141.3% during the fourth quarter. XTX Topco Ltd now owns 74,784 shares of the company’s stock valued at $1,013,000 after buying an additional 43,794 shares in the last quarter. Numerai GP LLC acquired a new position in NerdWallet during the fourth quarter valued at $423,000. Finally, Millennium Management LLC raised its position in NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after buying an additional 497,978 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

NRDS traded down $0.43 during trading on Friday, reaching $9.93. The company had a trading volume of 1,337,331 shares, compared to its average volume of 1,197,950. The firm’s 50-day simple moving average is $11.47 and its 200 day simple moving average is $12.15. The company has a market cap of $663.22 million, a price-to-earnings ratio of 15.52 and a beta of 1.44. NerdWallet has a 12-month low of $7.55 and a 12-month high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $211.37 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts expect that NerdWallet will post 0.36 EPS for the current year.

NerdWallet announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial cut their price target on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Oppenheimer lowered their price objective on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Zacks Research downgraded shares of NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Finally, Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $14.00 to $9.00 in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, NerdWallet currently has a consensus rating of “Hold” and a consensus target price of $14.33.

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.