The Manufacturers Life Insurance Company Has $219,000 Stake in NerdWallet, Inc. (NASDAQ:NRDS)

The Manufacturers Life Insurance Company boosted its position in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 16.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,999 shares of the company’s stock after buying an additional 2,172 shares during the period. The Manufacturers Life Insurance Company’s holdings in NerdWallet were worth $219,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NRDS. Cubist Systematic Strategies LLC grew its stake in NerdWallet by 11.1% during the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after buying an additional 1,561 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of NerdWallet by 126.4% in the second quarter. Meeder Asset Management Inc. now owns 16,841 shares of the company’s stock worth $246,000 after acquiring an additional 9,401 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of NerdWallet in the second quarter worth about $250,000. Los Angeles Capital Management LLC bought a new position in shares of NerdWallet in the second quarter worth about $301,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of NerdWallet by 45.5% in the second quarter. Squarepoint Ops LLC now owns 21,042 shares of the company’s stock worth $307,000 after acquiring an additional 6,585 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of research reports. Oppenheimer dropped their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Barclays dropped their target price on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NerdWallet currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Insider Transactions at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the transaction, the vice president now owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 45.93% of the company’s stock.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $12.29 on Friday. The company has a 50 day simple moving average of $12.40 and a 200 day simple moving average of $13.36. The firm has a market cap of $955.40 million, a PE ratio of -72.29 and a beta of 1.42. NerdWallet, Inc. has a 1 year low of $6.38 and a 1 year high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $150.60 million during the quarter, compared to the consensus estimate of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) EPS. As a group, research analysts anticipate that NerdWallet, Inc. will post -0.01 earnings per share for the current fiscal year.

NerdWallet 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.