279,640 Shares in NerdWallet, Inc. $NRDS Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group purchased 279,640 NerdWallet shares valued at approximately $2.9 million, giving it a 0.42% stake. Institutional investors collectively own 38.81% of the company.
• Analyst sentiment is mixed: four analysts rate NerdWallet a Buy, three a Hold and one a Sell. The stock has an average rating of Hold and an average price target of $12.83 after several target-price cuts.
• NerdWallet beat quarterly EPS expectations, reporting $0.29 versus the $0.25 consensus, while revenue rose 6.2% year over year to $222.2 million but fell short of estimates. Shares opened at $9.61, near the lower half of their 52-week range.

Principal Financial Group Inc. bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 279,640 shares of the company's stock, valued at approximately $2,903,000. Principal Financial Group Inc. owned 0.42% of NerdWallet at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of NerdWallet by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company's stock valued at $42,977,000 after buying an additional 48,205 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company's stock valued at $15,842,000 after acquiring an additional 55,003 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in NerdWallet by 26.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company's stock valued at $12,200,000 after acquiring an additional 234,691 shares during the last quarter. State Street Corp increased its position in NerdWallet by 3.2% during the 4th quarter. State Street Corp now owns 922,142 shares of the company's stock valued at $12,495,000 after purchasing an additional 28,844 shares during the period. Finally, Millennium Management LLC raised its holdings in NerdWallet by 23.9% during the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company's stock worth $7,847,000 after purchasing an additional 166,984 shares during the last quarter. Institutional investors own 38.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NRDS. Truist Financial reduced their price objective on shares of NerdWallet from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Oppenheimer dropped their target price on shares of NerdWallet from $15.00 to $12.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. Wall Street Zen cut shares of NerdWallet from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. KeyCorp decreased their price target on NerdWallet from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings lowered NerdWallet from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 21st. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $12.83.

NerdWallet Stock Up 0.3%

Shares of NRDS stock opened at $9.61 on Thursday. The company has a market cap of $632.34 million, a price-to-earnings ratio of 10.33 and a beta of 1.23. NerdWallet, Inc. has a 52 week low of $7.33 and a 52 week high of $16.24. The firm has a 50 day moving average of $8.83 and a 200-day moving average of $10.02.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company's revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the transaction, the insider owned 4,331,992 shares of the company's stock, valued at $38,771,328.40. This represents a 17.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,961,860 shares of company stock worth $17,862,921 in the last quarter. 52.75% of the stock is currently owned by corporate insiders.

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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