NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 4,615,484 shares, an increase of 34.5% from the January 29th total of 3,432,410 shares. Currently, 11.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,135,255 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily trading volume, of 1,135,255 shares, the days-to-cover ratio is currently 4.1 days. Currently, 11.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NRDS shares. Barclays raised their price target on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Truist Financial decreased their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley upped 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. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, KeyCorp boosted their price target on shares of NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NerdWallet has an average rating of “Hold” and an average price target of $15.20.

Insider Buying and Selling at NerdWallet

In other news, insider Samuel Yount sold 15,945 shares of NerdWallet stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the sale, the insider directly owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of NerdWallet by 80.6% during the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock valued at $366,000 after buying an additional 18,047 shares in the last quarter. Millennium Management LLC lifted its position in NerdWallet by 23.9% during the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after acquiring an additional 166,984 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in NerdWallet by 65.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 124,268 shares of the company’s stock worth $1,363,000 after acquiring an additional 49,058 shares in the last quarter. Versor Investments LP grew its holdings in NerdWallet by 62.7% in the second quarter. Versor Investments LP now owns 47,932 shares of the company’s stock worth $526,000 after purchasing an additional 18,463 shares during the period. Finally, Corton Capital Inc. increased its stake in shares of NerdWallet by 149.2% during the second quarter. Corton Capital Inc. now owns 37,781 shares of the company’s stock valued at $414,000 after purchasing an additional 22,622 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Price Performance

NASDAQ:NRDS traded up $0.23 during trading hours on Monday, hitting $11.08. The company had a trading volume of 1,205,464 shares, compared to its average volume of 1,009,429. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.24. The stock has a 50-day moving average price of $12.07 and a 200 day moving average price of $12.10. The company has a market capitalization of $805.63 million, a PE ratio of 17.31 and a beta of 1.44.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. During the same period in the prior year, the firm earned $0.51 earnings per share. NerdWallet’s revenue was up 22.6% on a year-over-year basis. Analysts anticipate that NerdWallet will post 0.36 EPS for the current fiscal year.

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

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.