NerdWallet (NASDAQ:NRDS) Trading Down 4.6% – Should You Sell?

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price fell 4.6% during mid-day trading on Wednesday . The company traded as low as $14.50 and last traded at $14.45. 46,055 shares traded hands during trading, a decline of 89% from the average session volume of 413,132 shares. The stock had previously closed at $15.15.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NRDS. KeyCorp raised their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.20.

NerdWallet Stock Performance

The company’s 50-day moving average price is $13.84 and its 200-day moving average price is $13.33. The firm has a market capitalization of $1.05 billion, a PE ratio of -101.99 and a beta of 1.32.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. As a group, analysts anticipate that NerdWallet, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the transaction, the chief financial officer now owns 313,100 shares of the company’s stock, valued at $4,395,924. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 822,353 shares of company stock worth $11,051,439 over the last 90 days. 45.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of NerdWallet in the third quarter valued at approximately $516,000. Dimensional Fund Advisors LP raised its position in NerdWallet by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after purchasing an additional 86,376 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in NerdWallet during the 3rd quarter worth $890,000. Barclays PLC grew its position in NerdWallet by 374.6% during the 3rd quarter. Barclays PLC now owns 65,277 shares of the company’s stock worth $830,000 after purchasing an additional 51,524 shares during the last quarter. Finally, State Street Corp grew its position in NerdWallet by 3.7% during the 3rd quarter. State Street Corp now owns 799,521 shares of the company’s stock worth $10,162,000 after purchasing an additional 28,785 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.