Topline Capital Partners, Lp Acquires 412,055 Shares of NerdWallet, Inc. (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $11.33 on Friday. The company’s fifty day moving average is $12.37 and its two-hundred day moving average is $13.26. NerdWallet, Inc. has a 1-year low of $6.48 and a 1-year high of $17.30. The stock has a market capitalization of $891.78 million, a price-to-earnings ratio of -75.53 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The business had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. During the same quarter last year, the company earned ($0.14) EPS. NerdWallet’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Truist Financial decreased their price objective on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Oppenheimer cut their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, NerdWallet has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TNF LLC acquired a new stake in NerdWallet in the third quarter worth $178,000. nVerses Capital LLC bought a new stake in NerdWallet in the 3rd quarter valued at about $62,000. Cubist Systematic Strategies LLC boosted its stake in NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after purchasing an additional 1,561 shares during the period. Quarry LP bought a new position in NerdWallet in the 2nd quarter worth about $31,000. Finally, Algert Global LLC acquired a new stake in shares of NerdWallet in the second quarter valued at approximately $196,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

About NerdWallet

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.