NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) insider Samuel Yount sold 3,011 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $10.61, for a total transaction of $31,946.71. Following the completion of the transaction, the insider owned 198,251 shares in the company, valued at $2,103,443.11. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
NerdWallet Stock Up 1.6%
NASDAQ NRDS opened at $10.09 on Tuesday. The firm has a 50-day moving average price of $11.41 and a two-hundred day moving average price of $12.15. NerdWallet, Inc. has a 12-month low of $7.55 and a 12-month high of $16.24. The company has a market capitalization of $673.91 million, a P/E ratio of 15.77 and a beta of 1.44.
NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $225.40 million for the quarter, compared to analysts' expectations of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The business's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts expect that NerdWallet, Inc. will post 0.36 EPS for the current year.
NerdWallet declared that its board has approved a share buyback program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
NRDS has been the subject of a number of recent analyst reports. Zacks Research downgraded NerdWallet from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. Morgan Stanley downgraded NerdWallet from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $14.00 to $9.00 in a research note on Friday. Truist Financial cut 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. Finally, Oppenheimer reduced their price objective on shares of NerdWallet from $18.00 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.33.
View Our Latest Report on NerdWallet
Institutional Investors Weigh In On NerdWallet
A number of large investors have recently modified their holdings of NRDS. Covestor Ltd bought a new position in shares of NerdWallet in the 4th quarter valued at $34,000. Tower Research Capital LLC TRC raised its holdings in shares of NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company's stock worth $43,000 after buying an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in shares of NerdWallet during the 3rd quarter worth $111,000. Olympiad Research LP bought a new stake in shares of NerdWallet during the 3rd quarter worth $119,000. Finally, Prelude Capital Management LLC acquired a new stake in NerdWallet in the third quarter valued at about $119,000. Institutional investors and hedge funds own 38.81% of the company's stock.
NerdWallet Company Profile
(
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.
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