NerdWallet (NASDAQ:NRDS) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of NerdWallet (NASDAQ:NRDS) from a buy rating to a hold rating in a research note released on Saturday morning.

NRDS has been the subject of several other reports. Citigroup cut their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of NerdWallet in a research report on Monday, May 4th. Truist Financial cut their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Finally, Oppenheimer lowered their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.83.

NerdWallet Stock Up 2.5%

NASDAQ NRDS opened at $7.77 on Friday. The company has a 50-day simple moving average of $10.27 and a two-hundred day simple moving average of $11.95. NerdWallet has a 12-month low of $7.33 and a 12-month high of $16.24. The firm has a market cap of $511.27 million, a price-to-earnings ratio of 8.35 and a beta of 1.34.

NerdWallet (NASDAQ:NRDS) last posted 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. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The business had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. NerdWallet’s revenue was up 6.2% on a year-over-year basis. Equities analysts expect that NerdWallet will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at approximately $540,462.90. This represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Samuel Yount sold 71,988 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total transaction of $742,916.16. Following the transaction, the insider directly owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 86,043 shares of company stock valued at $901,317. Insiders own 52.75% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of NerdWallet by 80.6% during the first 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 during the period. Millennium Management LLC increased its position in shares of NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after buying an additional 166,984 shares during the period. Creative Planning purchased a new position in shares of NerdWallet during the second quarter valued at about $177,000. JPMorgan Chase & Co. increased its position in shares of NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after buying an additional 2,161 shares during the period. Finally, Legal & General Group Plc increased its position in shares of NerdWallet by 7.7% during the second quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock valued at $504,000 after buying an additional 3,300 shares during the period. 38.81% of the stock is owned by institutional investors.

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.