NerdWallet (NASDAQ:NRDS) Sees Large Volume Increase on Analyst Upgrade

NerdWallet, Inc. (NASDAQ:NRDS) saw strong trading volume on Thursday after Barclays raised their price target on the stock from $17.00 to $19.00. Barclays currently has an overweight rating on the stock. 624,750 shares changed hands during trading, an increase of 67% from the previous session’s volume of 373,900 shares.The stock last traded at $11.85 and had previously closed at $13.98.

Several other brokerages have also commented on NRDS. KeyCorp boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, NerdWallet currently has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Insider Buying and Selling

In related news, CFO Lauren Stclair sold 11,856 shares of the business’s 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 in the company, valued at $4,395,924. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 822,353 shares of company stock worth $11,051,439 in the last quarter. 45.93% of the stock is owned by insiders.

Institutional Trading of NerdWallet

A number of hedge funds have recently bought and sold shares of NRDS. Verition Fund Management LLC bought a new stake in NerdWallet in the third quarter valued at approximately $516,000. Point72 Asset Management L.P. bought a new stake in NerdWallet in the third quarter valued at approximately $890,000. Barclays PLC lifted its position in NerdWallet by 374.6% in the third quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after purchasing an additional 51,524 shares during the last quarter. State Street Corp lifted its position in NerdWallet by 3.7% in the third quarter. State Street Corp now owns 799,521 shares of the company’s stock valued at $10,162,000 after purchasing an additional 28,785 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Stock Down 18.6 %

The company has a 50-day simple moving average of $13.80 and a two-hundred day simple moving average of $13.21. The stock has a market cap of $835.75 million, a P/E ratio of -81.28 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The firm had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. As a group, sell-side analysts forecast that NerdWallet, Inc. will post -0.11 earnings per share 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.