Charles Schwab Investment Management Inc. Trims Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Charles Schwab Investment Management Inc. lowered its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 298,964 shares of the company’s stock after selling 30,480 shares during the period. Charles Schwab Investment Management Inc. owned 0.41% of NerdWallet worth $3,976,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. acquired a new position in shares of NerdWallet during the 3rd quarter valued at about $6,446,000. Jacobs Levy Equity Management Inc. raised its stake in NerdWallet by 346.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock worth $6,333,000 after purchasing an additional 386,646 shares during the period. Los Angeles Capital Management LLC raised its stake in NerdWallet by 892.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company’s stock worth $2,875,000 after purchasing an additional 194,387 shares during the period. Point72 Asset Management L.P. acquired a new position in NerdWallet in the 3rd quarter valued at about $890,000. Finally, Barclays PLC grew its stake in shares of NerdWallet by 374.6% in the 3rd quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after buying an additional 51,524 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NRDS has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays lifted their target price on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, NerdWallet has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity at NerdWallet

In other news, insider Samuel Yount sold 3,003 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.45, for a total transaction of $40,390.35. Following the sale, the insider now owns 401,101 shares of the company’s stock, valued at approximately $5,394,808.45. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.93% of the stock is currently owned by company insiders.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $9.33 on Thursday. NerdWallet, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $16.45. The company has a 50 day moving average price of $11.87 and a 200 day moving average price of $12.81. The stock has a market capitalization of $691.43 million, a P/E ratio of 23.33 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. Research analysts forecast that NerdWallet, Inc. will post 0.36 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.