Norges Bank Makes New Investment in NerdWallet, Inc. (NASDAQ:NRDS)

Norges Bank purchased a new stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 284,600 shares of the company’s stock, valued at approximately $3,785,000.

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in NerdWallet in the fourth quarter worth approximately $80,000. US Bancorp DE lifted its holdings in shares of NerdWallet by 41.2% during the 4th quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after buying an additional 2,800 shares during the period. AXQ Capital LP purchased a new position in shares of NerdWallet in the 4th quarter worth $138,000. Bailard Inc. bought a new stake in shares of NerdWallet in the fourth quarter worth $160,000. Finally, SG Americas Securities LLC increased its position in NerdWallet by 17.0% during the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock valued at $216,000 after acquiring an additional 2,364 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Down 5.4 %

Shares of NRDS opened at $8.16 on Friday. The business has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $12.44. NerdWallet, Inc. has a 52 week low of $7.55 and a 52 week high of $16.45. The stock has a market cap of $604.72 million, a price-to-earnings ratio of 20.40 and a beta of 1.41.

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. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The business had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. On average, equities analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NRDS shares. Morgan Stanley dropped their target price on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays raised their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.