Insider Selling: NerdWallet (NASDAQ:NRDS) Insider Sells 71,988 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS) insider Samuel Yount sold 71,988 shares of NerdWallet stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the transaction, the insider directly owned 173,973 shares of the company’s stock, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Samuel Yount also recently made the following trade(s):

• On Thursday, March 12th, Samuel Yount sold 3,011 shares of NerdWallet stock. The shares were sold at an average price of $10.61, for a total transaction of $31,946.71.

NerdWallet Stock Performance

Shares of NRDS traded up $0.09 on Thursday, hitting $10.27. 907,773 shares of the stock traded hands, compared to its average volume of 1,281,549. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.24. The company has a market capitalization of $685.93 million, a PE ratio of 15.91 and a beta of 1.44. The business has a 50 day simple moving average of $11.20 and a 200 day simple moving average of $12.12.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The company’s revenue was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. On average, equities analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

NerdWallet announced that its board has approved a stock repurchase plan on Tuesday, December 16th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NRDS. Invesco Ltd. boosted its holdings in shares of NerdWallet by 27.7% in the fourth quarter. Invesco Ltd. now owns 103,226 shares of the company’s stock worth $1,399,000 after buying an additional 22,406 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in NerdWallet during the fourth quarter valued at approximately $310,000. XTX Topco Ltd raised its position in NerdWallet by 141.3% in the fourth quarter. XTX Topco Ltd now owns 74,784 shares of the company’s stock worth $1,013,000 after acquiring an additional 43,794 shares during the period. Numerai GP LLC bought a new position in NerdWallet in the fourth quarter worth approximately $423,000. Finally, Millennium Management LLC boosted its stake in shares of NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after acquiring an additional 497,978 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of recent analyst reports. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $14.00 to $9.00 in a research note on Friday, March 13th. Oppenheimer lowered their price objective on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.33.

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.