Point72 Asset Management L.P. Decreases Stock Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Point72 Asset Management L.P. lessened its position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,300 shares of the company's stock after selling 45,700 shares during the quarter. Point72 Asset Management L.P.'s holdings in NerdWallet were worth $323,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its stake in NerdWallet by 1.5% in the 4th quarter. Rhumbline Advisers now owns 51,536 shares of the company's stock valued at $685,000 after buying an additional 769 shares during the last quarter. American Century Companies Inc. lifted its holdings in NerdWallet by 8.0% during the 4th quarter. American Century Companies Inc. now owns 21,237 shares of the company's stock valued at $282,000 after purchasing an additional 1,576 shares during the last quarter. Swiss National Bank lifted its holdings in NerdWallet by 2.1% during the 4th quarter. Swiss National Bank now owns 78,600 shares of the company's stock valued at $1,045,000 after purchasing an additional 1,600 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after acquiring an additional 2,364 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of NerdWallet by 12.4% during the 4th quarter. MetLife Investment Management LLC now owns 24,537 shares of the company's stock worth $326,000 after buying an additional 2,705 shares during the period. Hedge funds and other institutional investors own 38.81% of the company's stock.

NerdWallet Trading Up 2.2%

NerdWallet stock traded up $0.23 on Tuesday, hitting $10.75. 358,383 shares of the stock traded hands, compared to its average volume of 551,263. The business's fifty day simple moving average is $9.41 and its 200 day simple moving average is $11.74. The firm has a market cap of $801.01 million, a P/E ratio of 26.88 and a beta of 1.41. NerdWallet, Inc. has a 1 year low of $7.55 and a 1 year high of $16.45.

Analyst Ratings Changes

Several research analysts recently commented on NRDS shares. Barclays increased their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Morgan Stanley dropped 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 report on Monday, February 24th. KeyCorp decreased their price target on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Citigroup reduced their price target 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.00.

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.