NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,280,000 shares, a decrease of 20.3% from the February 13th total of 2,860,000 shares. Based on an average daily trading volume, of 588,300 shares, the short-interest ratio is presently 3.9 days. Currently, 6.5% of the shares of the company are sold short.

NerdWallet Stock Performance

Shares of NASDAQ NRDS opened at $9.01 on Monday. NerdWallet has a one year low of $8.76 and a one year high of $16.45. The firm has a market capitalization of $667.71 million, a P/E ratio of 22.53 and a beta of 1.39. The company’s fifty day moving average is $12.68 and its two-hundred day moving average is $13.01.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting 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 the consensus estimate of $168.33 million. On average, sell-side analysts forecast that NerdWallet will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NRDS has been the topic of several analyst reports. Barclays lifted their target price on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley reduced their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Insider Transactions at NerdWallet

In related news, insider Samuel Yount sold 154,465 shares of NerdWallet stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $13.14, for a total value of $2,029,670.10. Following the transaction, the insider now directly owns 409,147 shares in the company, valued at $5,376,191.58. This trade represents a 27.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 597,804 shares of company stock worth $8,010,193. Company insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Several institutional investors have recently modified their holdings of the company. Topline Capital Management LLC acquired a new stake in NerdWallet in the 4th quarter valued at about $69,840,000. Geode Capital Management LLC lifted its holdings in shares of NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock valued at $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Quinn Opportunity Partners LLC grew its position in shares of NerdWallet by 3,324.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after purchasing an additional 867,681 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of NerdWallet by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock worth $11,537,000 after purchasing an additional 64,366 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.