Quest Partners LLC Lowers Position in NerdWallet, Inc. (NASDAQ:NRDS)

Quest Partners LLC decreased its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 42.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,385 shares of the company’s stock after selling 10,043 shares during the period. Quest Partners LLC’s holdings in NerdWallet were worth $195,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC boosted its holdings in NerdWallet by 108.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after acquiring an additional 481,958 shares during the last quarter. Vanguard Group Inc. grew its position in NerdWallet by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after purchasing an additional 432,262 shares in the last quarter. Azora Capital LP grew its position in NerdWallet by 23.7% in the 4th quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock worth $15,516,000 after purchasing an additional 202,149 shares in the last quarter. G2 Investment Partners Management LLC purchased a new stake in NerdWallet in the 4th quarter valued at about $2,463,000. Finally, Legato Capital Management LLC purchased a new position in shares of NerdWallet in the 2nd quarter worth approximately $555,000. Institutional investors own 38.81% of the company’s stock.

Insider Buying and Selling

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the sale, the vice president now owns 2,329,471 shares in the company, valued at $27,976,946.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 45.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial decreased their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Barclays lowered their target price on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Oppenheimer reduced their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.00.

NerdWallet Price Performance

Shares of NRDS opened at $12.88 on Monday. NerdWallet, Inc. has a 1 year low of $6.38 and a 1 year high of $17.30. The stock’s fifty day moving average price is $13.17 and its two-hundred day moving average price is $13.88. The firm has a market cap of $1.00 billion, a PE ratio of -75.76 and a beta of 1.43.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. NerdWallet’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. Sell-side analysts anticipate that NerdWallet, Inc. will post -0.01 earnings per share for the current fiscal year.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.