Newbridge Financial Services Group Inc. Sells 5,941 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Newbridge Financial Services Group Inc. lowered its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 49.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,164 shares of the company’s stock after selling 5,941 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in NerdWallet were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in NerdWallet by 12.1% during the first 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 during the period. Azora Capital LP lifted its stake in shares of NerdWallet by 23.7% in the fourth quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock worth $15,516,000 after buying an additional 202,149 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of 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 buying an additional 481,958 shares during the period. Dimensional Fund Advisors LP raised its holdings in NerdWallet by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock worth $11,239,000 after acquiring an additional 86,376 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NerdWallet by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock worth $3,665,000 after acquiring an additional 39,800 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Down 2.6 %

Shares of NRDS opened at $12.56 on Friday. The stock’s 50-day moving average price is $12.51 and its 200 day moving average price is $13.56. The firm has a market capitalization of $976.39 million, a price-to-earnings ratio of -73.88 and a beta of 1.42. NerdWallet, Inc. has a 12-month low of $6.38 and a 12-month high of $17.30.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NRDS. Truist Financial dropped their price objective on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Barclays dropped their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Oppenheimer cut their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Insider Activity

In related news, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 45.93% of the company’s stock.

NerdWallet Profile

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.