NerdWallet (NASDAQ:NRDS) Reaches New 12-Month Low After Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price hit a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $15.00 to $12.00. Morgan Stanley currently has an equal weight rating on the stock. NerdWallet traded as low as $9.99 and last traded at $10.31, with a volume of 281691 shares traded. The stock had previously closed at $10.33.

NRDS has been the subject of a number of other reports. Barclays raised their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. KeyCorp lifted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Insiders Place Their Bets

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the transaction, the insider now directly owns 254,237 shares of the company’s stock, valued at approximately $3,429,657.13. This trade represents a 63.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 313,100 shares in the company, valued at $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 822,353 shares of company stock valued at $11,051,439. 45.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. TNF LLC purchased a new position in shares of NerdWallet in the third quarter worth $178,000. US Bancorp DE purchased a new position in shares of NerdWallet in the third quarter worth $86,000. Olympiad Research LP increased its stake in shares of NerdWallet by 42.3% in the third quarter. Olympiad Research LP now owns 16,711 shares of the company’s stock worth $212,000 after buying an additional 4,967 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of 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 buying an additional 1,190 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of NerdWallet by 138.4% in the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after buying an additional 28,644 shares during the period. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

The firm’s 50 day moving average is $13.68 and its 200 day moving average is $13.24. The company has a market capitalization of $765.98 million, a PE ratio of 26.08 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS 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 company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. As a group, analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current fiscal 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.