US Bancorp DE Makes New Investment in NerdWallet, Inc. (NASDAQ:NRDS)

US Bancorp DE bought a new position in NerdWallet, Inc. (NASDAQ:NRDS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,792 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its position in NerdWallet by 11.1% during the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after purchasing an additional 1,561 shares during the period. Marshall Wace LLP increased its position in NerdWallet by 2.0% during the second quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,070 shares during the last quarter. Quarry LP acquired a new stake in NerdWallet during the second quarter worth $31,000. The Manufacturers Life Insurance Company lifted its position in NerdWallet by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock valued at $219,000 after buying an additional 2,172 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in NerdWallet in the 3rd quarter valued at approximately $62,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

NRDS opened at $13.88 on Friday. The company’s 50 day simple moving average is $13.02 and its 200 day simple moving average is $13.38. NerdWallet, Inc. has a 1 year low of $10.10 and a 1 year high of $17.30. The stock has a market capitalization of $1.02 billion, a PE ratio of -99.14 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $191.30 million during the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. NerdWallet’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, sell-side analysts expect that NerdWallet, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NRDS has been the topic of a number of analyst reports. Truist Financial reduced their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Morgan Stanley boosted their target price on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays increased their target price on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp lifted their price target on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer dropped their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, NerdWallet currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity at NerdWallet

In other NerdWallet news, insider Topline Capital Management, Ll acquired 49,722 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was bought at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the purchase, the insider now owns 4,839,090 shares in the company, valued at $58,311,034.50. This represents a 1.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the purchase, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 8.52 % increase in their position. The disclosure for this purchase can be found here. 45.93% of the stock is owned by 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.