Insider Selling: NerdWallet (NASDAQ:NRDS) Major Shareholder Sells $8,226,419.35 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the completion of the sale, the insider owned 4,331,992 shares in the company, valued at $38,771,328.40. This trade represents a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The stock was sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The shares were sold at an average price of $9.22, for a total transaction of $5,419,838.70.

NerdWallet Price Performance

NRDS stock traded down $0.14 during midday trading on Tuesday, hitting $9.25. The company’s stock had a trading volume of 777,375 shares, compared to its average volume of 938,484. The company’s fifty day moving average price is $8.99 and its 200 day moving average price is $10.75. NerdWallet, Inc. has a twelve month low of $7.33 and a twelve month high of $16.24. The stock has a market capitalization of $608.64 million, a P/E ratio of 9.95 and a beta of 1.25.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The business had revenue of $222.20 million for the quarter, compared to analyst estimates of $227.63 million. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that NerdWallet, Inc. will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NRDS has been the subject of several analyst reports. KeyCorp decreased their target price on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Oppenheimer decreased their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Truist Financial dropped their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Morgan Stanley downgraded shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $14.00 to $9.00 in a research note on Friday, March 13th. Finally, Wall Street Zen downgraded shares of NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.83.

Institutional Investors Weigh In On NerdWallet

A number of large investors have recently added to or reduced their stakes in the business. OP Asset Management Ltd acquired a new stake in NerdWallet during the 1st quarter valued at $6,957,000. Millennium Management LLC raised its position in shares of NerdWallet by 1,231.3% in the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after purchasing an additional 497,978 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after purchasing an additional 444,038 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of NerdWallet during the 1st quarter worth about $2,903,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of NerdWallet during the 3rd quarter worth about $2,812,000. Institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.