NerdWallet (NASDAQ:NRDS) Reaches New 12-Month Low – Time to Sell?

Shares of NerdWallet, Inc. (NASDAQ:NRDS) hit a new 52-week low on Monday . The stock traded as low as $9.03 and last traded at $9.09, with a volume of 107532 shares changing hands. The stock had previously closed at $9.40.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NRDS. Morgan Stanley reduced their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Barclays lifted their price target on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NerdWallet presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Stock Down 0.8 %

The firm has a market capitalization of $666.23 million, a PE ratio of 22.48 and a beta of 1.40. The stock has a 50-day moving average price of $12.95 and a 200 day moving average price of $13.09.

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

Insider Activity

In other news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares in the company, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 745,330 shares of company stock worth $9,986,328 over the last three months. 45.93% of the stock is currently owned by corporate insiders.

Institutional Trading of NerdWallet

A number of institutional investors and hedge funds have recently made changes to their positions in NRDS. KLP Kapitalforvaltning AS purchased a new stake in shares of NerdWallet during the fourth quarter worth approximately $80,000. US Bancorp DE purchased a new stake in shares of NerdWallet during the third quarter worth approximately $86,000. AXQ Capital LP purchased a new stake in shares of NerdWallet during the fourth quarter worth approximately $138,000. Point72 Asia Singapore Pte. Ltd. increased its position 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 worth $140,000 after purchasing an additional 10,218 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of NerdWallet during the third quarter worth approximately $135,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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.