NerdWallet (NASDAQ:NRDS) Major Shareholder Topline Capital Partners, Lp Sells 919,153 Shares

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 919,153 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the completion of the sale, the insider owned 4,331,992 shares in the company, valued at $38,771,328.40. This represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The shares were sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The shares were sold at an average price of $9.22, for a total transaction of $5,419,838.70.

NerdWallet Price Performance

NRDS traded down $0.14 during mid-day trading on Tuesday, hitting $9.25. The stock had a trading volume of 777,375 shares, compared to its average volume of 938,484. The stock’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $10.75. The firm has a market capitalization of $608.64 million, a price-to-earnings ratio of 9.95 and a beta of 1.25. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts expect that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of NerdWallet

A number of institutional investors have recently modified their holdings of the company. Covestor Ltd acquired a new position in shares of NerdWallet during the fourth quarter worth about $34,000. New York State Teachers Retirement System acquired a new stake in NerdWallet in the 1st quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its stake in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after acquiring an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in NerdWallet in the 3rd quarter valued at approximately $111,000. Finally, Prelude Capital Management LLC bought a new stake in NerdWallet in the 3rd quarter valued at approximately $119,000. 38.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NRDS has been the topic of a number of research analyst reports. Oppenheimer dropped their price target on NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley cut NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $14.00 to $9.00 in a research note on Friday, March 13th. Truist Financial dropped their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, KeyCorp cut their price target on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Company Profile

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.