NerdWallet (NASDAQ:NRDS) Stock Price Down 6% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) shares traded down 6% during trading on Tuesday . The company traded as low as $11.36 and last traded at $11.39. 218,829 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 397,586 shares. The stock had previously closed at $12.12.

Wall Street Analysts Forecast Growth

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

NerdWallet Stock Performance

The business has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $13.34. The company has a market capitalization of $856.67 million, a price-to-earnings ratio of -67.00 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Research analysts predict that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In other news, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several large investors have recently added to or reduced their stakes in NRDS. Steamboat Capital Partners LLC lifted its holdings in shares of NerdWallet by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after acquiring an additional 4,030 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after purchasing an additional 481,958 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of NerdWallet by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after buying an additional 432,262 shares during the period. SG Americas Securities LLC acquired a new stake in shares of NerdWallet during the 2nd quarter worth $445,000. Finally, Bank of New York Mellon Corp raised its position in shares of NerdWallet by 27.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock worth $1,794,000 after buying an additional 26,572 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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.