Renaissance Technologies LLC Acquires 202,838 Shares of NerdWallet, Inc. $NRDS

Renaissance Technologies LLC grew its holdings in NerdWallet, Inc. (NASDAQ:NRDS) by 25.4% in the 1st quarter, HoldingsChannel reports. The firm owned 1,002,275 shares of the company’s stock after buying an additional 202,838 shares during the quarter. Renaissance Technologies LLC’s holdings in NerdWallet were worth $10,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NRDS. Vanguard Group Inc. boosted its stake in shares of NerdWallet by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after buying an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after buying an additional 153,790 shares during the period. State Street Corp lifted its holdings in NerdWallet by 3.2% during the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock worth $12,495,000 after buying an additional 28,844 shares during the period. Finally, Millennium Management LLC boosted 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 in the last quarter. 38.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NRDS shares. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Truist Financial dropped their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. KeyCorp decreased their price target on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Oppenheimer lowered their price target on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.83.

Insider Activity

In related news, 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 value of $8,226,419.35. Following the completion of the transaction, the insider directly owned 4,331,992 shares of the company’s stock, valued at $38,771,328.40. This trade represents a 17.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,961,860 shares of company stock worth $17,862,921 in the last 90 days. Corporate insiders own 52.75% of the company’s stock.

NerdWallet Price Performance

Shares of NRDS stock opened at $9.00 on Friday. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24. The stock’s fifty day moving average price is $8.86 and its 200 day moving average price is $9.98. The company has a market cap of $592.20 million, a price-to-earnings ratio of 9.68 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last announced its 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 for the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

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.