Millennium Management LLC Increases Stake in NerdWallet, Inc. (NASDAQ:NRDS)

Millennium Management LLC increased its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 325.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 700,129 shares of the company's stock after purchasing an additional 535,701 shares during the period. Millennium Management LLC owned 0.95% of NerdWallet worth $9,312,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NRDS. Topline Capital Management LLC bought a new stake in shares of NerdWallet during the fourth quarter valued at about $69,840,000. Quinn Opportunity Partners LLC increased its holdings in 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 acquiring an additional 867,681 shares during the period. Alta Fox Capital Management LLC bought a new stake in NerdWallet during the 4th quarter worth approximately $10,761,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 worth $12,083,000 after purchasing an additional 555,329 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of NerdWallet by 153.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock valued at $10,197,000 after acquiring an additional 463,758 shares during the last quarter. Institutional investors own 38.81% of the company's stock.

NerdWallet Price Performance

NASDAQ:NRDS traded down $0.17 during mid-day trading on Friday, hitting $10.58. 31,668 shares of the company's stock were exchanged, compared to its average volume of 548,686. The company has a market cap of $788.35 million, a PE ratio of 26.45 and a beta of 1.41. NerdWallet, Inc. has a one year low of $7.55 and a one year high of $16.45. The business has a fifty day moving average price of $9.50 and a 200 day moving average price of $11.70.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NRDS shares. Morgan Stanley decreased their target price on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Barclays lifted their target price on shares of NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Citigroup reduced their price target on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, KeyCorp cut their price objective on NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NerdWallet presently has an average rating of "Moderate Buy" and an average price target of $15.00.

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.