Cubist Systematic Strategies LLC Buys 173,027 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Cubist Systematic Strategies LLC lifted its stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 330.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,310 shares of the company's stock after purchasing an additional 173,027 shares during the quarter. Cubist Systematic Strategies LLC owned 0.31% of NerdWallet worth $2,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in NerdWallet by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company's stock worth $11,537,000 after buying an additional 64,366 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in NerdWallet by 556.8% in the fourth quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company's stock worth $3,206,000 after buying an additional 204,326 shares during the last quarter. Jump Financial LLC acquired a new position in NerdWallet during the fourth quarter valued at approximately $799,000. Versor Investments LP acquired a new position in NerdWallet during the fourth quarter valued at approximately $669,000. Finally, Quinn Opportunity Partners LLC grew its holdings in NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock valued at $11,887,000 after purchasing an additional 867,681 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NRDS. KeyCorp lowered their price target on NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Barclays increased their price target on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Citigroup lowered their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley lowered their price objective on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

NerdWallet Stock Up 0.7%

NRDS traded up $0.08 during trading on Friday, reaching $11.41. 124,855 shares of the company's stock were exchanged, compared to its average volume of 573,648. NerdWallet, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $16.45. The business has a 50 day moving average price of $9.15 and a 200 day moving average price of $11.98. The company has a market capitalization of $845.20 million, a P/E ratio of 28.51 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $183.80 million during the quarter, compared to analysts' expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. As a group, research analysts forecast that NerdWallet, Inc. will post 0.36 EPS 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.