Intech Investment Management LLC Invests $135,000 in NerdWallet, Inc. (NASDAQ:NRDS)

Intech Investment Management LLC bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,600 shares of the company’s stock, valued at approximately $135,000.

Several other hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its position in NerdWallet by 32.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after buying an additional 86,029 shares during the last quarter. GSA Capital Partners LLP increased its position in NerdWallet by 138.4% during the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after buying an additional 28,644 shares during the last quarter. Los Angeles Capital Management LLC increased its position in NerdWallet by 5.8% during the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after buying an additional 1,190 shares during the last quarter. Olympiad Research LP increased its position in NerdWallet by 42.3% during the third quarter. Olympiad Research LP now owns 16,711 shares of the company’s stock worth $212,000 after buying an additional 4,967 shares during the last quarter. Finally, US Bancorp DE acquired a new position in NerdWallet during the third quarter worth $86,000. 38.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays upped their price target on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Buying and Selling at NerdWallet

In other news, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the transaction, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of NerdWallet stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the transaction, the insider now owns 5,251,145 shares of the company’s stock, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 45.93% of the company’s stock.

NerdWallet Price Performance

NRDS stock opened at $13.53 on Friday. NerdWallet, Inc. has a 52-week low of $10.10 and a 52-week high of $17.30. The stock has a market capitalization of $993.64 million, a price-to-earnings ratio of -96.64 and a beta of 1.31. The company has a 50-day moving average of $13.35 and a two-hundred day moving average of $13.38.

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