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

NerdWallet (NASDAQ:NRDS) had its price objective cut by Morgan Stanley from $15.00 to $12.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

NRDS has been the subject of a number of other research reports. KeyCorp increased their price target on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays upped 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Stock Down 2.7 %

NRDS stock opened at $10.20 on Monday. The business’s 50-day moving average price is $13.57 and its 200-day moving average price is $13.21. The stock has a market cap of $749.08 million, a P/E ratio of 25.50 and a beta of 1.33. NerdWallet has a twelve month low of $9.99 and a twelve month high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. On average, equities research analysts expect that NerdWallet will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the sale, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 154,465 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $13.14, for a total value of $2,029,670.10. Following the transaction, the insider now directly owns 409,147 shares of the company’s stock, valued at approximately $5,376,191.58. The trade was a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 822,353 shares of company stock worth $11,051,439 in the last 90 days. 45.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TNF LLC bought a new position in NerdWallet during the third quarter valued at $178,000. US Bancorp DE purchased a new stake in shares of NerdWallet during the 3rd quarter valued at about $86,000. Olympiad Research LP lifted its holdings in shares of NerdWallet by 42.3% in the 3rd quarter. Olympiad Research LP now owns 16,711 shares of the company’s stock valued at $212,000 after acquiring an additional 4,967 shares during the last quarter. Los Angeles Capital Management LLC grew its position in NerdWallet by 5.8% in the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after acquiring an additional 1,190 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in NerdWallet by 138.4% during the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after acquiring an additional 28,644 shares during the last quarter. 38.81% of the stock is 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.