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

Cubist Systematic Strategies LLC increased its stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 330.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Topline Capital Management LLC acquired a new stake in NerdWallet during the 4th quarter worth approximately $69,840,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in NerdWallet by 157.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock worth $12,083,000 after buying an additional 555,329 shares during the period. Quinn Opportunity Partners LLC increased its position in shares of NerdWallet by 3,324.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after acquiring an additional 867,681 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NerdWallet by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company's stock valued at $11,537,000 after acquiring an additional 64,366 shares during the period. Finally, Alta Fox Capital Management LLC acquired a new position in shares of NerdWallet during the 4th quarter valued at $10,761,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

Analysts Set New Price Targets

NRDS has been the subject of several recent research reports. Barclays increased their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Citigroup cut their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. KeyCorp lowered their target price on NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Morgan Stanley cut their price target on 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.00.

NerdWallet Trading Down 2.2%

NerdWallet stock traded down $0.25 during mid-day trading on Thursday, reaching $11.33. The company's stock had a trading volume of 272,133 shares, compared to its average volume of 546,959. The business has a 50 day moving average price of $9.10 and a 200-day moving average price of $11.98. NerdWallet, Inc. has a twelve month low of $7.55 and a twelve month high of $16.45. The firm has a market cap of $839.64 million, a price-to-earnings ratio of 28.33 and a beta of 1.41.

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