NerdWallet, Inc. (NASDAQ:NRDS) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,937 shares of the company's stock after selling 60,629 shares during the quarter. Ameriprise Financial Inc. owned about 0.12% of NerdWallet worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NRDS. Topline Capital Management LLC acquired a new stake in NerdWallet during the fourth quarter worth $69,840,000. Quinn Opportunity Partners LLC grew its holdings in shares of NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after purchasing an additional 867,681 shares during the period. Alta Fox Capital Management LLC acquired a new stake in shares of NerdWallet during the 4th quarter worth about $10,761,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in NerdWallet by 157.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after buying an additional 555,329 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in NerdWallet by 153.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock valued at $10,197,000 after buying an additional 463,758 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target 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. KeyCorp dropped their target price on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Morgan Stanley cut 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 note on Monday, February 24th. Finally, Citigroup dropped their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, NerdWallet has an average rating of "Moderate Buy" and a consensus price target of $15.00.

NerdWallet Stock Performance

Shares of NRDS traded up $0.28 during midday trading on Tuesday, hitting $10.80. The company had a trading volume of 475,918 shares, compared to its average volume of 552,364. The company's 50-day simple moving average is $9.55 and its 200-day simple moving average is $11.60. The firm has a market capitalization of $804.74 million, a P/E ratio of 27.00 and a beta of 1.41. NerdWallet, Inc. has a 1 year low of $7.55 and a 1 year high of $16.45.

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.