NerdWallet (NASDAQ:NRDS) Sees Strong Trading Volume on Analyst Upgrade

NerdWallet, Inc. (NASDAQ:NRDS) shares saw unusually-strong trading volume on Thursday after Barclays raised their price target on the stock from $17.00 to $19.00. Barclays currently has an overweight rating on the stock. Approximately 624,750 shares were traded during trading, an increase of 67% from the previous session’s volume of 373,900 shares.The stock last traded at $11.85 and had previously closed at $13.98.

Several other research firms have also issued reports on NRDS. KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on NerdWallet from $14.00 to $15.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Insider Transactions at NerdWallet

In other news, insider Samuel Yount sold 154,465 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $13.14, for a total transaction of $2,029,670.10. Following the transaction, the insider now owns 409,147 shares in the company, valued at approximately $5,376,191.58. This trade represents a 27.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the transaction, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 822,353 shares of company stock worth $11,051,439. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in NerdWallet during the 4th quarter worth $80,000. US Bancorp DE bought a new position in NerdWallet during the 3rd quarter worth $86,000. Intech Investment Management LLC bought a new position in NerdWallet during the 3rd quarter worth $135,000. AXQ Capital LP bought a new position in NerdWallet during the 4th quarter worth $138,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after acquiring an additional 10,218 shares during the period. Institutional investors own 38.81% of the company’s stock.

NerdWallet Trading Down 9.2 %

The stock has a 50 day simple moving average of $13.74 and a 200 day simple moving average of $13.21. The stock has a market cap of $758.64 million, a P/E ratio of 25.83 and a beta of 1.33.

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

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.