NerdWallet (NASDAQ:NRDS) Shares Gap Up to $13.52

NerdWallet, Inc. (NASDAQ:NRDS) shares gapped up before the market opened on Friday . The stock had previously closed at $13.52, but opened at $14.41. NerdWallet shares last traded at $13.16, with a volume of 76,130 shares traded.

Analyst Ratings Changes

NRDS has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Barclays upped their price target on NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Citigroup upped their price target on NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, KeyCorp boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.

NerdWallet Price Performance

The company has a 50-day moving average price of $15.09 and a 200 day moving average price of $13.49. The firm has a market capitalization of $992.66 million, a PE ratio of -81.74 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Thursday, April 25th. The company reported $0.01 earnings per share (EPS) for the quarter. NerdWallet had a negative return on equity of 3.24% and a negative net margin of 1.97%. The firm had revenue of $161.90 million for the quarter, compared to analysts’ expectations of $156.95 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that NerdWallet, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at NerdWallet

In other news, VP Samuel Yount sold 6,309 shares of NerdWallet stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the sale, the vice president now directly owns 2,350,242 shares of the company’s stock, valued at $37,979,910.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Several large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP boosted its position in shares of NerdWallet by 2.7% during the fourth quarter. Trexquant Investment LP now owns 42,959 shares of the company’s stock valued at $632,000 after buying an additional 1,133 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NerdWallet by 32.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,407 shares of the company’s stock worth $227,000 after buying an additional 3,796 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in NerdWallet by 112.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,643 shares of the company’s stock worth $68,000 after buying an additional 4,053 shares during the period. Meeder Asset Management Inc. purchased a new stake in NerdWallet during the fourth quarter worth $110,000. Finally, Steamboat Capital Partners LLC increased its position in shares of NerdWallet by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 442,761 shares of the company’s stock worth $3,936,000 after purchasing an additional 8,215 shares in the last quarter. 38.81% of the stock is owned by institutional investors.

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.