Key Points
- Insider sale: NerdWallet CAO Nicholas Tatum sold 10,151 shares on March 5 at an average of $11.45 for $116,228.95, trimming his stake by 17.7% to 47,202 shares (valued about $540,463).
- Earnings and buyback: NerdWallet beat quarterly estimates with $0.19 EPS and $225.4M revenue (up 22.6% year-over-year), and its board has authorized a $50 million share repurchase program (up to ~5% of shares).
- Stock context: NRDS traded around $11.16 (down ~1.5%), has a market cap of ~$745M and a consensus analyst rating of "Hold" with a $15.17 price target.
NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) CAO Nicholas Tatum sold 893 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $11.45, for a total value of $10,224.85. Following the transaction, the chief accounting officer directly owned 57,948 shares of the company's stock, valued at approximately $663,504.60. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Nicholas Tatum also recently made the following trade(s):
- On Thursday, March 5th, Nicholas Tatum sold 10,151 shares of NerdWallet stock. The stock was sold at an average price of $11.45, for a total value of $116,228.95.
NerdWallet Trading Down 1.5%
Shares of NASDAQ:NRDS traded down $0.17 on Friday, reaching $11.16. 976,076 shares of the company were exchanged, compared to its average volume of 1,214,935. The company has a 50-day moving average of $11.78 and a 200-day moving average of $12.11. NerdWallet, Inc. has a 1-year low of $7.55 and a 1-year high of $16.24. The firm has a market cap of $745.38 million, a price-to-earnings ratio of 17.44 and a beta of 1.44.
NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company had revenue of $225.40 million during the quarter, compared to analysts' expectations of $211.37 million. During the same period last year, the company posted $0.51 earnings per share. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current year.
NerdWallet declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of research analysts have issued reports on NRDS shares. Zacks Research lowered shares of NerdWallet from a "hold" rating to a "strong sell" rating in a report on Thursday, February 26th. Oppenheimer dropped their price target on NerdWallet from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Wednesday. Truist Financial dropped their price objective on shares of NerdWallet from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Morgan Stanley raised their target price on NerdWallet from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Monday, November 10th. Finally, KeyCorp boosted their price objective on shares of NerdWallet from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.17.
Read Our Latest Report on NRDS
Hedge Funds Weigh In On NerdWallet
A number of large investors have recently bought and sold shares of NRDS. Millennium Management LLC lifted its holdings in shares of NerdWallet by 1,231.3% in the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company's stock worth $7,296,000 after purchasing an additional 497,978 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in NerdWallet during the 3rd quarter valued at $2,812,000. Nuveen LLC boosted its stake in NerdWallet by 296.1% during the fourth quarter. Nuveen LLC now owns 330,631 shares of the company's stock valued at $4,480,000 after buying an additional 247,157 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of NerdWallet by 26.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company's stock worth $12,200,000 after purchasing an additional 234,691 shares during the last quarter. Finally, UBS Group AG grew its position in NerdWallet by 52.2% in the fourth quarter. UBS Group AG now owns 489,591 shares of the company's stock worth $6,634,000 after buying an additional 167,954 shares during the last quarter. Institutional investors own 38.81% of the company's stock.
About NerdWallet
(
Get Free Report)
NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.
Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.
Further Reading
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