State Street Corp Has $10.16 Million Stock Position in NerdWallet, Inc. (NASDAQ:NRDS)

State Street Corp increased its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 799,521 shares of the company’s stock after purchasing an additional 28,785 shares during the period. State Street Corp owned approximately 1.09% of NerdWallet worth $10,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in NerdWallet during the third quarter worth about $516,000. Dimensional Fund Advisors LP raised its position in shares of NerdWallet by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after acquiring an additional 86,376 shares during the period. Point72 Asset Management L.P. bought a new position in NerdWallet during the 3rd quarter worth approximately $890,000. Cubist Systematic Strategies LLC grew its holdings 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. Finally, The Manufacturers Life Insurance Company increased its stake 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 purchasing an additional 2,172 shares in the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Price Performance

NRDS stock opened at $13.35 on Friday. The business has a 50-day moving average of $13.61 and a 200-day moving average of $13.35. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The stock has a market capitalization of $980.41 million, a P/E ratio of -95.35 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. During the same period last year, the business earned ($0.01) EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis. Equities analysts expect that NerdWallet, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NRDS. Morgan Stanley boosted their price target on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. KeyCorp boosted their target price on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NerdWallet presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Activity

In other news, CFO Lauren Stclair sold 11,856 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the completion of the sale, the chief financial officer now owns 313,100 shares of the company’s stock, valued at approximately $4,395,924. This represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll bought 49,722 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average cost of $12.05 per share, with a total value of $599,150.10. Following the completion of the purchase, the insider now directly owns 4,839,090 shares of the company’s stock, valued at $58,311,034.50. This represents a 1.04 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 379,014 shares of company stock worth $5,070,916 in the last quarter. Corporate insiders own 45.93% of the company’s stock.

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.