NerdWallet (NASDAQ:NRDS) Shares Down 5.1% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) fell 5.1% during trading on Tuesday . The company traded as low as $8.72 and last traded at $8.6150. Approximately 120,838 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 847,276 shares. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

NRDS has been the topic of several recent analyst reports. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of NerdWallet in a research note on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Trading Down 7.6%

The company’s 50 day simple moving average is $9.53 and its 200-day simple moving average is $9.55. The firm has a market cap of $536.54 million, a P/E ratio of 9.46 and a beta of 1.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $197.30 million for the quarter, compared to analysts’ expectations of $195.30 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts anticipate that NerdWallet, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total transaction of $4,216,663.44. Following the completion of the sale, the insider owned 3,289,285 shares in the company, valued at approximately $30,491,671.95. This represents a 12.15% 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 the SEC website. Insiders sold a total of 1,961,860 shares of company stock worth $17,862,921 in the last three months. 52.75% of the stock is currently owned by corporate insiders.

Institutional Trading of NerdWallet

Several large investors have recently added to or reduced their stakes in NRDS. Covestor Ltd purchased a new stake in NerdWallet during the fourth quarter valued at approximately $34,000. New York State Teachers Retirement System purchased a new position in shares of NerdWallet during the 1st quarter worth $41,000. Squarepoint Ops LLC bought a new stake in shares of NerdWallet during the 2nd quarter valued at $508,000. State of Wyoming increased its stake in shares of NerdWallet by 5.8% in the 1st quarter. State of Wyoming now owns 59,142 shares of the company’s stock worth $614,000 after purchasing an additional 3,263 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of NerdWallet by 286.0% in the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock worth $755,000 after purchasing an additional 53,915 shares in the last quarter. 38.81% of the stock is currently owned by institutional investors.

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile products provide educational content, comparison tools and personalized recommendations across areas such as credit cards, banking, personal loans, mortgages, insurance, investing and everyday money management.

The company’s platform connects consumers with financial products from banks, lenders, insurers and other providers.