NerdWallet (NASDAQ:NRDS) Major Shareholder Topline Capital Partners, Lp Sells 454,872 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 454,872 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total value of $4,216,663.44. Following the completion of the sale, the insider directly 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 can be accessed through this link. Large shareholders that own at least 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 stock was sold at an average price of $9.22, for a total value of $5,419,838.70.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35.

NerdWallet Stock Down 1.5%

NASDAQ NRDS opened at $9.25 on Wednesday. The stock has a market capitalization of $608.65 million, a PE ratio of 9.95 and a beta of 1.25. The company has a 50 day moving average price of $8.96 and a two-hundred day moving average price of $10.71. NerdWallet, Inc. has a 12-month low of $7.33 and a 12-month high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company had revenue of $222.20 million during the quarter, compared to the consensus estimate of $227.63 million. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that NerdWallet, Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Oppenheimer lowered their target price on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. KeyCorp reduced their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Truist Financial decreased their price target on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $14.00 to $9.00 in a report on Friday, March 13th. Finally, Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NerdWallet presently has an average rating of “Hold” and an average target price of $12.83.

Institutional Trading of NerdWallet

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in NerdWallet by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after buying an additional 48,205 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after acquiring an additional 444,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after acquiring an additional 153,790 shares during the period. Renaissance Technologies LLC boosted its holdings in NerdWallet by 25.4% during the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after acquiring an additional 202,838 shares during the period. Finally, State Street Corp grew its position in shares of NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock valued at $12,495,000 after purchasing an additional 28,844 shares during the last quarter. 38.81% of the stock is owned by institutional investors.

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.