NerdWallet (NASDAQ:NRDS) Sets New 12-Month Low Following Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS) shares hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $15.00 to $12.00. Morgan Stanley currently has an equal weight rating on the stock. NerdWallet traded as low as $9.99 and last traded at $10.31, with a volume of 281691 shares trading hands. The stock had previously closed at $10.33.

Other research analysts have also issued research reports about the stock. Barclays increased their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp increased their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Transactions at NerdWallet

In other news, insider Samuel Yount sold 440,336 shares of the firm’s stock in a transaction that occurred 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 approximately $3,429,657.13. This trade represents a 63.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Lauren Stclair sold 11,856 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the sale, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 822,353 shares of company stock valued at $11,051,439. Corporate insiders own 45.93% of the company’s stock.

Institutional Trading of NerdWallet

Several hedge funds have recently modified their holdings of NRDS. KLP Kapitalforvaltning AS acquired a new stake in shares of NerdWallet during the fourth quarter worth approximately $80,000. US Bancorp DE bought a new stake in shares of NerdWallet during the third quarter valued at approximately $86,000. Intech Investment Management LLC bought a new stake in shares of NerdWallet during the third quarter valued at approximately $135,000. AXQ Capital LP bought a new stake in shares of NerdWallet during the fourth quarter valued at approximately $138,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NerdWallet by 3,417.4% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock valued at $140,000 after purchasing an additional 10,218 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Price Performance

The company’s 50 day moving average price is $13.74 and its 200 day moving average price is $13.25. The firm has a market capitalization of $756.43 million, a P/E ratio of 25.75 and a beta of 1.33.

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

NerdWallet Company Profile

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.