NerdWallet (NASDAQ:NRDS) Trading 5.9% Higher – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS) traded up 5.9% during trading on Monday . The stock traded as high as $14.41 and last traded at $14.56. Approximately 33,246 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 416,314 shares. The stock had previously closed at $13.75.

Analyst Ratings Changes

Several equities analysts have issued reports on NRDS shares. Barclays upped their target price on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, KeyCorp lifted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NerdWallet presently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

NerdWallet Stock Performance

The company’s 50-day moving average price is $13.78 and its 200 day moving average price is $13.31.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The firm’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, sell-side analysts expect 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 stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the sale, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at $4,395,924. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the transaction, the insider now owns 254,237 shares in the company, valued at approximately $3,429,657.13. This trade represents a 63.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 822,353 shares of company stock worth $11,051,439 in the last three months. Corporate insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several large investors have recently made changes to their positions in the business. Quarry LP bought a new stake in NerdWallet during the 2nd quarter valued at approximately $31,000. nVerses Capital LLC purchased a new stake in NerdWallet during the 3rd quarter valued at approximately $62,000. US Bancorp DE bought a new stake in shares of NerdWallet during the third quarter valued at approximately $86,000. Intech Investment Management LLC bought a new stake in shares of NerdWallet during the third quarter valued at approximately $135,000. Finally, TNF LLC purchased a new position in shares of NerdWallet in the third quarter worth $178,000. 38.81% of the stock is currently 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.