Geode Capital Management LLC Buys 19,330 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Geode Capital Management LLC grew its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 924,423 shares of the company’s stock after purchasing an additional 19,330 shares during the period. Geode Capital Management LLC’s holdings in NerdWallet were worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NRDS. Verition Fund Management LLC bought a new stake in shares of NerdWallet during the third quarter worth $516,000. Dimensional Fund Advisors LP boosted its holdings in shares of NerdWallet by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after acquiring an additional 86,376 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in NerdWallet during the 3rd quarter worth $890,000. State Street Corp grew its position in NerdWallet by 3.7% during the 3rd quarter. State Street Corp now owns 799,521 shares of the company’s stock worth $10,162,000 after acquiring an additional 28,785 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of NerdWallet by 11.1% in the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after buying an additional 1,561 shares during the period. 38.81% of the stock is owned by institutional investors.

NerdWallet Stock Performance

NRDS stock opened at $13.30 on Wednesday. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The stock’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $13.35. The company has a market cap of $976.74 million, a P/E ratio of -94.99 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business had revenue of $191.30 million during the quarter, compared to the consensus estimate of $168.25 million. During the same quarter last year, the firm posted ($0.01) EPS. NerdWallet’s revenue was up 25.2% compared to the same quarter last year. Equities analysts predict that NerdWallet, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NRDS shares. Morgan Stanley increased their price target on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, KeyCorp boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insider Transactions at NerdWallet

In related news, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the sale, the chief financial officer now directly owns 313,100 shares in the company, valued at approximately $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Topline Capital Management, Ll bought 49,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were acquired at an average cost of $12.05 per share, with a total value of $599,150.10. Following the completion of the transaction, the insider now owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. The trade was a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 379,014 shares of company stock valued at $5,070,916 over the last ninety days. 45.93% of the stock is currently owned by insiders.

NerdWallet Company 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.