US Bancorp DE Acquires New Shares in NerdWallet, Inc. (NASDAQ:NRDS)

US Bancorp DE acquired a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,792 shares of the company’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NRDS. Cubist Systematic Strategies LLC grew 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 valued at $229,000 after acquiring an additional 1,561 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of NerdWallet by 2.0% during the second quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock worth $1,545,000 after acquiring an additional 2,070 shares during the period. Quarry LP acquired a new stake in shares of NerdWallet during the second quarter worth $31,000. The Manufacturers Life Insurance Company grew its position in shares of NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after purchasing an additional 2,172 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of NerdWallet during the 3rd quarter valued at $62,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll acquired 49,722 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were acquired at an average cost of $12.05 per share, for a total transaction of $599,150.10. Following the completion of the transaction, the insider now directly owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This trade represents a 1.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 45.93% of the company’s stock.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $13.88 on Friday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -99.14 and a beta of 1.39. The stock has a 50 day moving average price of $13.02 and a 200-day moving average price of $13.38. NerdWallet, Inc. has a 52-week low of $10.10 and a 52-week high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $168.25 million. During the same period last year, the business posted ($0.01) EPS. The company’s revenue was up 25.2% compared to the same quarter last year. On average, equities analysts forecast that NerdWallet, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of research reports. Oppenheimer dropped their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Morgan Stanley lifted their price objective on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial decreased their target price 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. Finally, KeyCorp increased their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Company Profile

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.