NerdWallet (NASDAQ:NRDS) Stock Price Down 4.6% – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS) shares fell 4.6% during trading on Wednesday . The company traded as low as $14.50 and last traded at $14.45. 46,055 shares changed hands during trading, a decline of 89% from the average session volume of 413,132 shares. The stock had previously closed at $15.15.

Analyst Ratings Changes

Several research analysts have weighed in on NRDS shares. KeyCorp boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, NerdWallet currently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

NerdWallet Price Performance

The company has a 50 day simple moving average of $13.78 and a 200-day simple moving average of $13.31. The stock has a market capitalization of $1.07 billion, a P/E ratio of -104.49 and a beta of 1.32.

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

Insider Transactions at NerdWallet

In other news, CFO Lauren Stclair sold 11,856 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the transaction, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel Yount sold 3,003 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.45, for a total value of $40,390.35. Following the sale, the insider now owns 401,101 shares in the company, valued at approximately $5,394,808.45. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 822,353 shares of company stock worth $11,051,439 over the last quarter. Corporate insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in NerdWallet by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock worth $216,000 after acquiring an additional 2,364 shares during the period. Barclays PLC grew its position in shares of NerdWallet by 374.6% during the 3rd quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after purchasing an additional 51,524 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock worth $11,751,000 after purchasing an additional 19,330 shares during the period. XTX Topco Ltd purchased a new stake in shares of NerdWallet in the third quarter worth $220,000. Finally, State Street Corp boosted its stake in NerdWallet by 3.7% during the third quarter. State Street Corp now owns 799,521 shares of the company’s stock valued at $10,162,000 after buying an additional 28,785 shares during the period. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.