Dimensional Fund Advisors LP Acquires 153,790 Shares of NerdWallet, Inc. $NRDS

Dimensional Fund Advisors LP increased its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 13.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,322,848 shares of the company’s stock after buying an additional 153,790 shares during the quarter. Dimensional Fund Advisors LP’s holdings in NerdWallet were worth $13,730,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. OP Asset Management Ltd purchased a new stake in NerdWallet during the first quarter worth about $6,957,000. Millennium Management LLC raised its position in NerdWallet by 1,231.3% in the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after acquiring an additional 497,978 shares during the period. Principal Financial Group Inc. purchased a new position in NerdWallet in the first quarter valued at about $2,903,000. Tudor Investment Corp ET AL purchased a new position in NerdWallet in the third quarter valued at about $2,812,000. Finally, Nuveen LLC grew its position in shares of NerdWallet by 296.1% during the 4th quarter. Nuveen LLC now owns 330,631 shares of the company’s stock valued at $4,480,000 after acquiring an additional 247,157 shares during the period. Institutional investors own 38.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer dropped their price objective on NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Truist Financial reduced their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Finally, KeyCorp lowered their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.83.

NerdWallet Stock Up 12.1%

NRDS stock opened at $9.91 on Friday. The stock has a 50-day simple moving average of $8.94 and a two-hundred day simple moving average of $9.85. NerdWallet, Inc. has a twelve month low of $7.33 and a twelve month high of $16.24. The firm has a market capitalization of $652.08 million, a PE ratio of 11.13 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). NerdWallet had a return on equity of 17.52% and a net margin of 7.56%.The firm had revenue of $197.30 million during the quarter, compared to analysts’ expectations of $195.30 million. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that NerdWallet, Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the company’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 transaction of $4,216,663.44. Following the sale, the insider owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. This represents a 12.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,961,860 shares of company stock worth $17,862,921. Corporate insiders own 52.75% of the company’s stock.

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.