Dimensional Fund Advisors LP Acquires 153,790 Shares of NerdWallet, Inc. $NRDS

Key Points

• Dimensional Fund Advisors increased its NerdWallet stake by 13.2%, purchasing 153,790 shares to own 1.32 million shares, or approximately 1.98% of the company. Institutional investors and hedge funds collectively own 38.81% of NRDS.
• NerdWallet reported quarterly revenue of $197.3 million, exceeding estimates of $195.3 million, while earnings per share of $0.07 fell short of the $0.09 consensus. Revenue increased 5.6% year over year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $12.83, while several firms recently lowered their targets. Insider selling was also notable, including Topline Capital Partners’ sale of 919,153 shares.

Dimensional Fund Advisors LP raised its holdings in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,322,848 shares of the company's stock after buying an additional 153,790 shares during the period. Dimensional Fund Advisors LP owned about 1.98% of NerdWallet worth $13,730,000 as of its most recent filing with the Securities and Exchange Commission.

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

NerdWallet Stock Performance

NerdWallet stock opened at $9.91 on Friday. NerdWallet, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $16.24. The firm's 50-day simple moving average is $8.94 and its 200 day simple moving average is $9.85. The stock has a market cap of $652.08 million, a PE ratio of 11.13 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). NerdWallet had a net margin of 7.56% and a return on equity of 17.52%. The firm had revenue of $197.30 million during the quarter, compared to analysts' expectations of $195.30 million. During the same quarter last year, the business posted $0.11 EPS. The company's quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts predict that NerdWallet, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35. Following the completion of the transaction, the insider directly owned 4,331,992 shares of the company's stock, valued at $38,771,328.40. This represents a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 1,961,860 shares of company stock valued at $17,862,921 over the last three months. Corporate insiders own 52.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NRDS. Weiss Ratings downgraded NerdWallet from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, May 21st. Truist Financial cut their target price on NerdWallet from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Oppenheimer decreased their price target on NerdWallet from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Monday, May 11th. KeyCorp lowered their price target on NerdWallet from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Citigroup dropped their price objective on NerdWallet from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have issued 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 a consensus price target of $12.83.

NerdWallet 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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