JPMorgan Chase & Co. Trims Position in NerdWallet, Inc. (NASDAQ:NRDS)

JPMorgan Chase & Co. decreased its position in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 54.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,694 shares of the company’s stock after selling 44,605 shares during the quarter. JPMorgan Chase & Co.’s holdings in NerdWallet were worth $466,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of NerdWallet in the second quarter valued at about $31,000. nVerses Capital LLC bought a new stake in NerdWallet during the 3rd quarter valued at approximately $62,000. US Bancorp DE purchased a new position in NerdWallet in the 3rd quarter worth approximately $86,000. Intech Investment Management LLC bought a new position in NerdWallet in the 3rd quarter worth approximately $135,000. Finally, TNF LLC purchased a new stake in NerdWallet during the 3rd quarter valued at approximately $178,000. Institutional investors own 38.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NRDS. Barclays upped their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, KeyCorp boosted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.20.

NerdWallet Stock Up 3.7 %

Shares of NASDAQ:NRDS opened at $15.15 on Wednesday. The firm has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $13.31. 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 $1.11 billion, a P/E ratio of -108.21 and a beta of 1.32.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data 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. 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%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, analysts expect that NerdWallet, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, insider Samuel Yount sold 3,003 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.45, for a total value of $40,390.35. Following the completion of the sale, the insider now owns 401,101 shares in the company, valued at approximately $5,394,808.45. The trade was a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction that occurred 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 in the company, valued at approximately $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 822,353 shares of company stock valued at $11,051,439. 45.93% of the stock is currently owned by insiders.

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.