AXQ Capital LP Purchases New Position in NerdWallet, Inc. (NASDAQ:NRDS)

AXQ Capital LP acquired a new position in NerdWallet, Inc. (NASDAQ:NRDS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,354 shares of the company’s stock, valued at approximately $138,000.

Several other hedge funds have also modified their holdings of NRDS. Versor Investments LP purchased a new position in shares of NerdWallet in the fourth quarter valued at $669,000. Verition Fund Management LLC purchased a new position in shares of NerdWallet in the 3rd quarter worth $516,000. Point72 Asset Management L.P. bought a new stake in shares of NerdWallet in the 3rd quarter worth about $890,000. US Bancorp DE raised its position in shares of NerdWallet by 41.2% during the 4th quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after buying an additional 2,800 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of NerdWallet by 374.6% in the 3rd quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after acquiring an additional 51,524 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $9.43 on Tuesday. NerdWallet, Inc. has a 1 year low of $8.75 and a 1 year high of $16.45. The firm has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $12.85. The company has a market cap of $698.84 million, a P/E ratio of 23.58 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. As a group, equities research analysts expect that NerdWallet, Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on NRDS. Barclays boosted their price objective on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley cut their target price on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity

In related news, insider Samuel Yount sold 3,003 shares of NerdWallet stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.45, for a total transaction of $40,390.35. Following the completion of the sale, the insider now owns 401,101 shares in the company, valued at $5,394,808.45. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 45.93% 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.