UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 6,371 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,032 shares of the company’s stock after selling 6,371 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of NerdWallet worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its holdings in NerdWallet by 5.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after purchasing an additional 1,190 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of 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 during the period. Marshall Wace LLP raised its stake 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 buying an additional 2,070 shares during the last quarter. Quarry LP acquired a new position in NerdWallet in the second quarter valued at $31,000. Finally, The Manufacturers Life Insurance Company boosted its position in NerdWallet by 16.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock valued at $219,000 after acquiring an additional 2,172 shares during the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. KeyCorp lifted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price target on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now directly owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 8.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the transaction, the chief financial officer now owns 313,100 shares in the company, valued at $4,395,924. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 379,014 shares of company stock worth $5,070,916 over the last three months. 45.93% of the stock is currently owned by insiders.

NerdWallet Stock Performance

NRDS stock opened at $12.73 on Friday. The stock’s 50 day simple moving average is $13.54 and its 200 day simple moving average is $13.36. The company has a market cap of $934.88 million, a P/E ratio of -90.92 and a beta of 1.31. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $191.30 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. Equities analysts predict that NerdWallet, Inc. will post -0.11 earnings per share for the current 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.