Bank of New York Mellon Corp Sells 4,492 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Bank of New York Mellon Corp lessened its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 88,214 shares of the company’s stock after selling 4,492 shares during the period. Bank of New York Mellon Corp’s holdings in NerdWallet were worth $1,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NRDS. Intech Investment Management LLC bought a new stake in shares of NerdWallet during the 3rd quarter valued at $135,000. Charles Schwab Investment Management Inc. boosted its holdings in NerdWallet by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 329,444 shares of the company’s stock worth $4,187,000 after buying an additional 5,209 shares during the period. Verition Fund Management LLC purchased a new stake in NerdWallet in the 3rd quarter worth $516,000. Paloma Partners Management Co bought a new stake in NerdWallet during the third quarter valued at about $253,000. Finally, Basswood Capital Management L.L.C. purchased a new position in shares of NerdWallet in the third quarter valued at about $6,446,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

Analysts Set New Price Targets

NRDS has been the subject of several research analyst reports. Morgan Stanley cut their target price on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Barclays increased their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One research analyst has 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 stock has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Trading Up 3.5 %

NASDAQ:NRDS opened at $9.43 on Tuesday. The business’s 50-day moving average is $12.06 and its 200 day moving average is $12.85. NerdWallet, Inc. has a 12 month low of $8.75 and a 12 month high of $16.45. The company has a market capitalization 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 data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The business had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $168.33 million. On average, research analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the sale, the insider now directly owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 45.93% of the stock is owned by company insiders.

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.