Insider Selling: NerdWallet (NASDAQ:NRDS) Major Shareholder Sells $8,226,419.35 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35. Following the completion of the transaction, the insider owned 4,331,992 shares of the company’s stock, valued at $38,771,328.40. This trade represents a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The stock was sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The stock was sold at an average price of $9.22, for a total transaction of $5,419,838.70.

NerdWallet Stock Up 1.3%

Shares of NRDS stock opened at $9.47 on Friday. NerdWallet, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $16.24. The stock has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $10.64. The stock has a market capitalization of $623.13 million, a P/E ratio of 10.18 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last announced 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. The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.NerdWallet’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings lowered NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Truist Financial reduced their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wall Street Zen cut shares of NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Morgan Stanley downgraded shares of NerdWallet from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Finally, Citigroup lowered their price target on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NerdWallet has a consensus rating of “Hold” and a consensus target price of $12.83.

Hedge Funds Weigh In On NerdWallet

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRDS. Covestor Ltd acquired a new position in NerdWallet in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after acquiring an additional 1,054 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of NerdWallet during the first quarter valued at approximately $41,000. Polymer Capital Management US LLC bought a new position in shares of NerdWallet during the third quarter valued at about $111,000. Finally, Moran Wealth Management LLC bought a new position in shares of NerdWallet during the 4th quarter worth approximately $148,000. 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.