NerdWallet (NASDAQ:NRDS) Stock Price Down 6.9% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) shares fell 6.9% during trading on Friday . The company traded as low as $10.75 and last traded at $10.59. 288,437 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 479,813 shares. The stock had previously closed at $11.38.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NRDS shares. KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays raised their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of NerdWallet from $14.00 to $15.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.60.

NerdWallet Trading Down 6.2 %

The firm has a market cap of $784.34 million, a P/E ratio of 26.68 and a beta of 1.33. The firm has a 50-day simple moving average of $13.80 and a 200-day simple moving average of $13.21.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. Research analysts predict that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Samuel Yount sold 440,336 shares of the company’s 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 completion of the sale, the insider now owns 254,237 shares of the company’s stock, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the company’s 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 owns 313,100 shares of the company’s stock, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 822,353 shares of company stock valued at $11,051,439. Company insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of NerdWallet during the 4th quarter worth about $80,000. US Bancorp DE acquired a new stake in shares of NerdWallet during the third quarter worth about $86,000. Intech Investment Management LLC acquired a new position in shares of NerdWallet in the third quarter worth $135,000. AXQ Capital LP acquired a new position in shares of NerdWallet in the fourth quarter worth $138,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NerdWallet by 3,417.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after acquiring an additional 10,218 shares in the last quarter. Institutional investors and hedge funds 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.