Samuel Yount Sells 3,011 Shares of NerdWallet (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) insider Samuel Yount sold 3,011 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $10.61, for a total value of $31,946.71. Following the completion of the transaction, the insider owned 198,251 shares of the company’s stock, valued at $2,103,443.11. The trade was a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NerdWallet Stock Performance

Shares of NASDAQ NRDS opened at $10.16 on Wednesday. The firm has a market capitalization of $678.59 million, a P/E ratio of 15.88 and a beta of 1.44. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.24. The company’s fifty day moving average is $11.34 and its two-hundred day moving average is $12.15.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

NerdWallet declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Oppenheimer reduced their price objective on NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Finally, Truist Financial decreased their target price on NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, NerdWallet presently has a consensus rating of “Hold” and an average price target of $14.33.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRDS. Vanguard Group Inc. lifted its holdings in shares of NerdWallet by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NerdWallet by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company’s stock worth $15,842,000 after purchasing an additional 55,003 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of NerdWallet by 26.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after purchasing an additional 234,691 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NerdWallet by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock worth $10,154,000 after purchasing an additional 81,986 shares during the last quarter. Finally, State Street Corp lifted its stake in NerdWallet by 3.2% in the 4th quarter. State Street Corp now owns 922,142 shares of the company’s stock valued at $12,495,000 after buying 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.