NerdWallet (NASDAQ:NRDS) Stock Price Down 6.9% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS) fell 6.9% during trading on Friday . The stock traded as low as $10.75 and last traded at $10.59. 288,437 shares traded hands during trading, a decline of 40% from the average session volume of 479,813 shares. The stock had previously closed at $11.38.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NRDS shares. KeyCorp raised their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays upped their price target on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

NerdWallet Trading Down 6.2 %

The business’s fifty day moving average price is $13.80 and its 200 day moving average price is $13.21. The firm has a market capitalization of $784.34 million, a price-to-earnings ratio of 26.68 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $168.33 million. As a group, sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction on Monday, December 2nd. The stock was 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. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Samuel Yount sold 76,185 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $13.40, for a total value of $1,020,879.00. Following the completion of the transaction, the insider now directly owns 522,656 shares of the company’s stock, valued at approximately $7,003,590.40. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 822,353 shares of company stock valued at $11,051,439. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Topline Capital Management LLC purchased a new position in NerdWallet in the fourth quarter valued at about $69,840,000. Geode Capital Management LLC increased its stake in shares of NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after acquiring an additional 555,329 shares during the period. Quinn Opportunity Partners LLC increased its stake in NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after buying an additional 867,681 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in NerdWallet by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock worth $11,537,000 after purchasing an additional 64,366 shares during the period. 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.