NerdWallet, Inc. (NASDAQ:NRDS) Given Average Rating of “Hold” by Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.40.

A number of research firms recently issued reports on NRDS. Morgan Stanley increased their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NerdWallet in a research report on Wednesday, October 8th. Zacks Research lowered shares of NerdWallet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Truist Financial upped their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Barclays increased their target price on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th.

NerdWallet Stock Down 4.0%

NRDS opened at $10.92 on Thursday. The stock has a market cap of $793.99 million, a P/E ratio of 11.38 and a beta of 1.43. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.24. The company has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $12.16.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Thursday, November 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.14. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm had revenue of $215.10 million for the quarter, compared to analyst estimates of $193.31 million. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that NerdWallet will post 0.36 earnings per share for the current fiscal year.

NerdWallet declared that its board has initiated a share buyback program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the transaction, the insider owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 44,231 shares of company stock valued at $669,277. 46.54% of the stock is currently owned by company insiders.

Institutional Trading of NerdWallet

A number of institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL bought a new position in NerdWallet in the third quarter valued at $2,812,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of NerdWallet by 26.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after acquiring an additional 234,691 shares in the last quarter. UBS Group AG grew its holdings in shares of NerdWallet by 52.2% in the 4th quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after acquiring an additional 167,954 shares in the last quarter. Millennium Management LLC raised its holdings in NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after acquiring an additional 166,984 shares in the last quarter. Finally, Kent Lake PR LLC boosted its position in NerdWallet by 115.6% during the second quarter. Kent Lake PR LLC now owns 275,000 shares of the company’s stock valued at $3,017,000 after purchasing an additional 147,466 shares during the last quarter. Institutional investors 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.