Millennium Management LLC Raises Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Millennium Management LLC raised its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 325.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 700,129 shares of the company's stock after buying an additional 535,701 shares during the quarter. Millennium Management LLC owned about 0.95% of NerdWallet worth $9,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of NerdWallet during the 4th quarter valued at $80,000. US Bancorp DE increased its stake in NerdWallet by 41.2% in the fourth quarter. US Bancorp DE now owns 9,592 shares of the company's stock valued at $128,000 after acquiring an additional 2,800 shares during the last quarter. AXQ Capital LP purchased a new stake in NerdWallet during the fourth quarter valued at about $138,000. Bailard Inc. bought a new stake in NerdWallet during the fourth quarter worth about $160,000. Finally, SG Americas Securities LLC boosted its holdings in shares of NerdWallet by 17.0% in the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after purchasing an additional 2,364 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Stock Down 0.2%

NRDS traded down $0.02 during trading on Wednesday, hitting $10.73. The company's stock had a trading volume of 298,010 shares, compared to its average volume of 550,254. The business's 50 day simple moving average is $9.44 and its 200-day simple moving average is $11.73. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.45. The firm has a market cap of $799.52 million, a PE ratio of 26.83 and a beta of 1.41.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on 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 dropped their target price on NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Citigroup dropped their target price on NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Barclays boosted their target price on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

NerdWallet Company 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.