NerdWallet (NASDAQ:NRDS) Sets New 12-Month Low Following Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS) hit a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $15.00 to $12.00. Morgan Stanley currently has an equal weight rating on the stock. NerdWallet traded as low as $9.99 and last traded at $10.31, with a volume of 281691 shares traded. The stock had previously closed at $10.33.

NRDS has been the topic of a number of other reports. Barclays lifted their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp lifted their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Buying and Selling

In related news, insider Samuel Yount sold 3,003 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.45, for a total transaction of $40,390.35. Following the sale, the insider now directly owns 401,101 shares in the company, valued at $5,394,808.45. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the firm’s 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 owns 313,100 shares in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 822,353 shares of company stock worth $11,051,439 over the last ninety days. Company insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in NerdWallet in the 4th quarter valued at $80,000. US Bancorp DE acquired a new stake in NerdWallet in the 3rd quarter valued at $86,000. AXQ Capital LP acquired a new stake in NerdWallet in the 4th quarter valued at $138,000. Point72 Asia Singapore Pte. Ltd. increased its stake in NerdWallet by 3,417.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock valued at $140,000 after buying an additional 10,218 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in NerdWallet in the 3rd quarter valued at $135,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Trading Down 0.3 %

The firm’s 50 day simple moving average is $13.74 and its 200-day simple moving average is $13.25. The stock has a market capitalization of $756.43 million, a price-to-earnings ratio of 25.75 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The company had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. As a group, equities research analysts predict that NerdWallet, Inc. will post 0.36 earnings per share for the current 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.