Quantbot Technologies LP Buys Shares of 20,040 NerdWallet, Inc. (NASDAQ:NRDS)

Quantbot Technologies LP bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,040 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after acquiring an additional 555,329 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of NerdWallet during the 3rd quarter worth approximately $6,446,000. Jacobs Levy Equity Management Inc. increased its stake in shares of NerdWallet by 346.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock valued at $6,333,000 after acquiring an additional 386,646 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of NerdWallet by 892.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company’s stock valued at $2,875,000 after acquiring an additional 194,387 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in NerdWallet during the third quarter worth $890,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays upped 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. Morgan Stanley lowered their price objective on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $9.02 on Friday. NerdWallet, Inc. has a 52 week low of $8.75 and a 52 week high of $16.45. The firm has a 50-day moving average price of $11.67 and a two-hundred day moving average price of $12.77. The firm has a market cap of $668.45 million, a price-to-earnings ratio of 22.55 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 for the quarter, hitting analysts’ consensus estimates 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, sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling at NerdWallet

In related news, insider Samuel Yount sold 440,336 shares of NerdWallet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 45.93% of the stock is owned by corporate 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.