Insider Selling: NerdWallet (NASDAQ:NRDS) Major Shareholder Sells $5,419,838.70 in Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $9.22, for a total value of $5,419,838.70. Following the sale, the insider directly owned 3,744,157 shares in the company, valued at approximately $34,521,127.54. The trade was a 13.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The stock was sold at an average price of $8.95, for a total transaction of $8,226,419.35.

NerdWallet Trading Up 1.3%

Shares of NRDS opened at $9.47 on Friday. NerdWallet, Inc. has a 52 week low of $7.33 and a 52 week high of $16.24. The firm has a market cap of $623.13 million, a price-to-earnings ratio of 10.18 and a beta of 1.23. The stock has a 50 day moving average of $8.89 and a 200-day moving average of $10.64.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NRDS has been the topic of several research analyst reports. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Citigroup lowered their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Truist Financial lowered their price target on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NerdWallet presently has a consensus rating of “Hold” and a consensus target price of $12.83.

Institutional Trading of NerdWallet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of NerdWallet by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after acquiring an additional 48,205 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after purchasing an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NerdWallet by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after purchasing an additional 153,790 shares during the period. Renaissance Technologies LLC raised its stake in NerdWallet by 25.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after purchasing an additional 202,838 shares during the period. Finally, State Street Corp lifted its holdings in shares of NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock valued at $12,495,000 after purchasing an additional 28,844 shares in the last quarter. Institutional investors and hedge funds 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.