NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,280,000 shares, a drop of 20.3% from the February 13th total of 2,860,000 shares. Based on an average trading volume of 588,300 shares, the short-interest ratio is presently 3.9 days. Approximately 6.5% of the shares of the stock are sold short.

Insider Activity at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares of the company’s stock, valued at approximately $3,429,657.13. The trade was a 63.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 597,804 shares of company stock valued at $8,010,193 over the last quarter. Insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently modified their holdings of NRDS. KLP Kapitalforvaltning AS acquired a new position in shares of NerdWallet during the 4th quarter valued at $80,000. US Bancorp DE purchased a new position in NerdWallet in the third quarter valued at about $86,000. Intech Investment Management LLC acquired a new position in shares of NerdWallet during the third quarter worth about $135,000. AXQ Capital LP purchased a new stake in shares of NerdWallet in the fourth quarter worth about $138,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NerdWallet by 3,417.4% in the fourth 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 in the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Stock Up 2.7 %

Shares of NRDS opened at $9.01 on Monday. NerdWallet has a fifty-two week low of $8.76 and a fifty-two week high of $16.45. The company’s fifty day moving average is $12.68 and its two-hundred day moving average is $13.01. The firm has a market cap of $667.71 million, a PE ratio of 22.53 and a beta of 1.39.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays raised their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.