NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,570,000 shares, a drop of 19.9% from the March 31st total of 1,960,000 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 342,200 shares, the short-interest ratio is currently 4.6 days.

Insider Activity at NerdWallet

In related news, VP Samuel Yount sold 6,309 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 in the company, valued at approximately $37,979,910.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 45.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NerdWallet by 112.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,643 shares of the company’s stock valued at $68,000 after purchasing an additional 4,053 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of NerdWallet during the fourth quarter valued at $110,000. Prudent Man Advisors LLC bought a new position in NerdWallet in the third quarter valued at about $111,000. SG Americas Securities LLC purchased a new stake in shares of NerdWallet during the fourth quarter worth about $133,000. Finally, Arizona State Retirement System bought a new position in NerdWallet during the fourth quarter valued at approximately $151,000. 38.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Truist Financial reduced their target price on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup increased 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 increased their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, NerdWallet currently has an average rating of “Moderate Buy” and an average price target of $16.50.

NerdWallet Trading Down 4.7 %

NerdWallet stock traded down $0.63 during mid-day trading on Friday, hitting $12.89. The company had a trading volume of 886,813 shares, compared to its average volume of 285,880. The stock’s 50 day moving average price is $15.01 and its two-hundred day moving average price is $13.55. NerdWallet has a 12 month low of $6.38 and a 12 month high of $17.30. The company has a market capitalization of $992.66 million, a PE ratio of -75.82 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Thursday, April 25th. The company reported $0.01 EPS for the quarter. NerdWallet had a negative return on equity of 3.39% and a negative net margin of 2.10%. The business had revenue of $161.90 million for the quarter, compared to the consensus estimate of $156.95 million. During the same period in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts anticipate that NerdWallet will post 0.22 EPS for the current 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.