Key Points
- Samuel Yount sold 71,988 shares of NerdWallet at an average price of $10.32 on March 17, totaling $742,916.16 and cutting his stake by 29.27% to 173,973 shares.
- NerdWallet beat quarterly estimates, reporting $0.19 EPS vs. $0.17 expected and $225.4M revenue (up 22.6% year-over-year), and the board authorized a $50 million share repurchase plan (about 5% of shares).
- Analysts are mixed: the consensus rating is a "Hold" with an average target of $14.33, though recent downgrades include Morgan Stanley moving to "underweight" with a $9 target.
NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) insider Samuel Yount sold 71,988 shares of NerdWallet stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the transaction, the insider directly owned 173,973 shares in the company, valued at $1,795,401.36. The trade was a 29.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Samuel Yount also recently made the following trade(s):
- On Thursday, March 12th, Samuel Yount sold 3,011 shares of NerdWallet stock. The shares were sold at an average price of $10.61, for a total transaction of $31,946.71.
NerdWallet Stock Performance
Shares of NASDAQ:NRDS opened at $10.27 on Friday. The company has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $12.12. The company has a market capitalization of $685.93 million, a PE ratio of 16.05 and a beta of 1.44. NerdWallet, Inc. has a 52 week low of $7.55 and a 52 week high of $16.24.
NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $211.37 million. During the same period last year, the firm posted $0.51 earnings per share. The business's quarterly revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current year.
NerdWallet declared that its board has initiated a share repurchase plan on Tuesday, December 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Truist Financial decreased their price objective on 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 lowered shares of NerdWallet from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Oppenheimer reduced their target price on shares of NerdWallet from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Wednesday, March 4th. Finally, Zacks Research downgraded NerdWallet from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 26th. 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 company. According to data from MarketBeat, NerdWallet has a consensus rating of "Hold" and an average target price of $14.33.
Get Our Latest Analysis on NerdWallet
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of NerdWallet by 27.7% during the 4th quarter. Invesco Ltd. now owns 103,226 shares of the company's stock worth $1,399,000 after buying an additional 22,406 shares during the last quarter. Mackenzie Financial Corp bought a new stake in NerdWallet during the fourth quarter worth about $310,000. XTX Topco Ltd raised its holdings in NerdWallet by 141.3% during the fourth quarter. XTX Topco Ltd now owns 74,784 shares of the company's stock worth $1,013,000 after acquiring an additional 43,794 shares in the last quarter. Numerai GP LLC acquired a new position in NerdWallet during the fourth quarter valued at approximately $423,000. Finally, Millennium Management LLC boosted its position in NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company's stock valued at $7,296,000 after purchasing an additional 497,978 shares during the last quarter. Institutional investors own 38.81% of the company's stock.
NerdWallet Company Profile
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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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