NerdWallet (NASDAQ:NRDS) Reaches New 12-Month Low – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) shares hit a new 52-week low during trading on Monday . The stock traded as low as $9.03 and last traded at $9.09, with a volume of 107532 shares traded. The stock had previously closed at $9.40.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays boosted their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley lowered their price objective on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NerdWallet presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Price Performance

The stock has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $13.09. The company has a market cap of $666.23 million, a price-to-earnings ratio of 22.48 and a beta of 1.40.

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

Insider Activity

In other news, insider Samuel Yount sold 76,185 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $13.40, for a total value of $1,020,879.00. Following the transaction, the insider now owns 522,656 shares of the company’s stock, valued at $7,003,590.40. This represents a 12.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 745,330 shares of company stock valued at $9,986,328 in the last quarter. Insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Several institutional investors and hedge funds have recently modified their holdings of NRDS. Topline Capital Management LLC purchased a new stake in shares of NerdWallet in the 4th quarter valued at $69,840,000. Quinn Opportunity Partners LLC raised its holdings in shares of NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after buying an additional 867,681 shares during the period. Alta Fox Capital Management LLC purchased a new stake in shares of NerdWallet in the 4th quarter valued at $10,761,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of NerdWallet by 157.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock valued at $12,083,000 after buying an additional 555,329 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of NerdWallet by 325.8% in the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after buying an additional 535,701 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.