Morgan Stanley Lowers NerdWallet (NASDAQ:NRDS) Price Target to $12.00

NerdWallet (NASDAQ:NRDS) had its target price dropped by analysts at Morgan Stanley from $15.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 16.17% from the company’s current price.

NRDS has been the topic of a number of other research reports. Barclays lifted their price target on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp lifted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Trading Down 9.2 %

Shares of NASDAQ:NRDS opened at $10.33 on Monday. The firm has a market cap of $758.64 million, a price-to-earnings ratio of 25.83 and a beta of 1.33. The stock’s 50-day moving average price is $13.74 and its two-hundred day moving average price is $13.25. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The business had revenue of $183.80 million for the quarter, compared to analyst estimates of $168.33 million. As a group, research analysts forecast that NerdWallet will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Samuel Yount sold 65,167 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $13.79, for a total value of $898,652.93. Following the completion of the transaction, the insider now directly owns 581,419 shares of the company’s stock, valued at $8,017,768.01. This represents a 10.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lauren Stclair sold 11,856 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the transaction, the chief financial officer now directly owns 313,100 shares in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 822,353 shares of company stock valued at $11,051,439. 45.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NerdWallet

Several hedge funds have recently made changes to their positions in NRDS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NerdWallet by 69.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company’s stock worth $1,238,000 after acquiring an additional 38,070 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of NerdWallet by 3,417.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after buying an additional 10,218 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of NerdWallet by 52.8% during the 4th quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company’s stock worth $9,091,000 after acquiring an additional 236,320 shares in the last quarter. Millennium Management LLC raised its stake in shares of NerdWallet by 325.8% in the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after acquiring an additional 535,701 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of NerdWallet by 14.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 569,106 shares of the company’s stock valued at $7,569,000 after acquiring an additional 70,862 shares in the last quarter. 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.