Ameriprise Financial Inc. Reduces Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Ameriprise Financial Inc. cut its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NRDS. SG Americas Securities LLC lifted its position in NerdWallet by 17.0% during the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock valued at $216,000 after purchasing an additional 2,364 shares during the period. Rhumbline Advisers lifted its position in NerdWallet by 1.5% during the fourth quarter. Rhumbline Advisers now owns 51,536 shares of the company's stock valued at $685,000 after purchasing an additional 769 shares during the period. Los Angeles Capital Management LLC lifted its position in NerdWallet by 892.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company's stock valued at $2,875,000 after purchasing an additional 194,387 shares during the period. Versor Investments LP acquired a new position in NerdWallet during the fourth quarter valued at $669,000. Finally, US Bancorp DE lifted its position in NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company's stock valued at $128,000 after purchasing an additional 2,800 shares during the period. 38.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NRDS. Barclays upped their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley decreased their price objective on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. KeyCorp decreased their price objective on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Citigroup decreased their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Two 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, NerdWallet has a consensus rating of "Moderate Buy" and an average target price of $15.00.

NerdWallet Stock Performance

Shares of NRDS stock traded up $0.07 on Thursday, reaching $10.86. 378,610 shares of the company were exchanged, compared to its average volume of 553,717. The company has a market cap of $809.21 million, a price-to-earnings ratio of 27.15 and a beta of 1.46. The business has a 50-day moving average price of $9.65 and a 200 day moving average price of $11.57. NerdWallet, Inc. has a 1 year low of $7.55 and a 1 year high of $16.45.

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.