109,809 Shares in NerdWallet, Inc. $NRDS Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 109,809 NerdWallet shares worth approximately $1.02 million, giving it a 0.17% stake. Institutional investors collectively owned 38.81% of the company.
• NerdWallet reported quarterly revenue of $197.3 million, up 5.6% year over year and above estimates, but earnings per share of $0.07 missed the $0.09 consensus forecast.
• The stock opened at $9.32, while analysts’ average rating was “Hold” with a $12.83 price target. Meanwhile, insiders sold nearly 2 million shares over the past 90 days, including a 919,153-share sale by Topline Capital Partners.

Bank of New York Mellon Corp acquired a new position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 109,809 shares of the company's stock, valued at approximately $1,016,000. Bank of New York Mellon Corp owned about 0.17% of NerdWallet at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of NerdWallet by 80.6% during the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company's stock worth $366,000 after purchasing an additional 18,047 shares during the period. Millennium Management LLC boosted its holdings in shares of NerdWallet by 23.9% in the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company's stock worth $7,847,000 after buying an additional 166,984 shares during the last quarter. Creative Planning bought a new position in NerdWallet during the second quarter valued at about $177,000. JPMorgan Chase & Co. grew its position in NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company's stock valued at $215,000 after buying an additional 2,161 shares during the period. Finally, Legal & General Group Plc grew its position in NerdWallet by 7.7% during the second quarter. Legal & General Group Plc now owns 45,986 shares of the company's stock valued at $504,000 after buying an additional 3,300 shares during the period. Institutional investors own 38.81% of the company's stock.

NerdWallet Price Performance

NASDAQ:NRDS opened at $9.32 on Friday. NerdWallet, Inc. has a 1 year low of $7.33 and a 1 year high of $16.24. The stock's fifty day moving average price is $9.55 and its two-hundred day moving average price is $9.61. The company has a market cap of $595.73 million, a P/E ratio of 10.47 and a beta of 1.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $197.30 million during the quarter, compared to analysts' expectations of $195.30 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. NerdWallet's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. On average, analysts expect that NerdWallet, Inc. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the sale, the insider directly owned 4,331,992 shares in the company, valued at $38,771,328.40. This represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 1,961,860 shares of company stock worth $17,862,921. 52.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NRDS has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of NerdWallet in a research note on Tuesday, August 18th. Zacks Research upgraded NerdWallet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered NerdWallet from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $12.83.

NerdWallet Company Profile

NerdWallet NASDAQ: NRDS is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.

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