NerdWallet, Inc. (NASDAQ:NRDS) Major Shareholder Buys $4,676,824.25 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NerdWallet Stock Performance

NRDS opened at $11.01 on Thursday. The stock has a market capitalization of $855.90 million, a price-to-earnings ratio of -64.76 and a beta of 1.42. The company has a fifty day moving average of $12.39 and a 200 day moving average of $13.30. NerdWallet, Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, equities research analysts forecast that NerdWallet, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on NRDS. Truist Financial dropped their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Barclays dropped their target price on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Oppenheimer lowered their price objective on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Trading of NerdWallet

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of NerdWallet during the 2nd quarter valued at approximately $31,000. nVerses Capital LLC purchased a new stake in NerdWallet during the third quarter valued at $62,000. Algert Global LLC bought a new position in NerdWallet during the second quarter valued at $196,000. The Manufacturers Life Insurance Company grew its stake in shares of NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after buying an additional 2,172 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after buying an additional 1,561 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.