NerdWallet, Inc. (NASDAQ:NRDS) Receives Average Rating of “Hold” from Analysts

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.83.

NRDS has been the topic of a number of analyst reports. Zacks Research upgraded NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of NerdWallet in a report on Tuesday, August 18th.

NerdWallet Stock Up 1.2%

Shares of NerdWallet stock opened at $8.20 on Friday. NerdWallet has a 52-week low of $7.33 and a 52-week high of $16.24. The company’s 50-day simple moving average is $9.45 and its 200-day simple moving average is $9.48. The firm has a market cap of $524.14 million, a price-to-earnings ratio of 9.21 and a beta of 1.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The firm had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. During the same quarter in the previous year, the business earned $0.11 EPS. NerdWallet’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts anticipate that NerdWallet will post 0.88 EPS for the current year.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 587,835 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $9.22, for a total value of $5,419,838.70. Following the completion of the transaction, the insider owned 3,744,157 shares in the company, valued at $34,521,127.54. This trade represents a 13.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 52.75% of the stock is owned by corporate insiders.

Institutional Trading of NerdWallet

A number of institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in NerdWallet in the 2nd quarter valued at approximately $508,000. Bank of New York Mellon Corp acquired a new stake in NerdWallet in the second quarter valued at $1,016,000. Quantinno Capital Management LP increased its position in shares of NerdWallet by 286.0% in the first quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock valued at $755,000 after buying an additional 53,915 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after buying an additional 202,838 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 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 buying an additional 444,038 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile products provide educational content, comparison tools and personalized recommendations across areas such as credit cards, banking, personal loans, mortgages, insurance, investing and everyday money management.

The company’s platform connects consumers with financial products from banks, lenders, insurers and other providers.