NerdWallet (NASDAQ:NRDS) Major Shareholder Topline Capital Partners, Lp Sells 587,835 Shares of Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 587,835 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $9.22, for a total value of $5,419,838.70. Following the completion of the sale, the insider owned 3,744,157 shares in the company, valued at approximately $34,521,127.54. This represents a 13.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 value of $4,216,663.44.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Stock Performance

NRDS opened at $9.25 on Wednesday. The company has a market cap of $608.65 million, a price-to-earnings ratio of 9.95 and a beta of 1.25. NerdWallet, Inc. has a one year low of $7.33 and a one year high of $16.24. The business’s fifty day moving average is $8.96 and its two-hundred day moving average is $10.71.

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

Analyst Ratings Changes

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

Institutional Trading of NerdWallet

A number of hedge funds have recently bought and sold shares of NRDS. Quantinno Capital Management LP lifted its stake in shares of NerdWallet by 286.0% during the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock worth $755,000 after purchasing an additional 53,915 shares during the period. Renaissance Technologies LLC grew its position in shares of NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after purchasing an additional 202,838 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after purchasing an additional 444,038 shares during the period. State of Wyoming grew its position in shares of NerdWallet by 5.8% in the first quarter. State of Wyoming now owns 59,142 shares of the company’s stock valued at $614,000 after purchasing an additional 3,263 shares during the period. Finally, First Trust Advisors LP increased its stake in NerdWallet by 2.5% in the first quarter. First Trust Advisors LP now owns 112,917 shares of the company’s stock valued at $1,172,000 after purchasing an additional 2,801 shares during the last quarter. Institutional investors and hedge funds 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.