NerdWallet (NASDAQ:NRDS) Shares Gap Down – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $9.33, but opened at $9.00. NerdWallet shares last traded at $9.29, with a volume of 104,131 shares traded.

Analyst Ratings Changes

NRDS has been the subject of several research analyst reports. Morgan Stanley cut their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Barclays increased their target price on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, NerdWallet presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Stock Down 0.9 %

The business has a 50 day moving average price of $11.46 and a 200 day moving average price of $12.72. The stock has a market cap of $685.13 million, a P/E ratio of 23.08 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data 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 company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. On average, research analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Samuel Yount sold 440,336 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the transaction, the insider now owns 254,237 shares of the company’s stock, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 45.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NerdWallet

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of NerdWallet by 1.5% during the fourth quarter. Rhumbline Advisers now owns 51,536 shares of the company’s stock valued at $685,000 after buying an additional 769 shares during the period. American Century Companies Inc. raised its holdings in shares of NerdWallet by 8.0% in the 4th quarter. American Century Companies Inc. now owns 21,237 shares of the company’s stock valued at $282,000 after purchasing an additional 1,576 shares in the last quarter. Swiss National Bank lifted its position in shares of NerdWallet by 2.1% in the 4th quarter. Swiss National Bank now owns 78,600 shares of the company’s stock worth $1,045,000 after purchasing an additional 1,600 shares during the period. SG Americas Securities LLC boosted its stake in shares of NerdWallet by 17.0% during the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock valued at $216,000 after purchasing an additional 2,364 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in NerdWallet by 12.4% during the fourth quarter. MetLife Investment Management LLC now owns 24,537 shares of the company’s stock valued at $326,000 after buying an additional 2,705 shares during the period. 38.81% of the stock is owned by institutional investors.

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.