Point72 Asset Management L.P. Sells 45,700 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Point72 Asset Management L.P. lessened its holdings in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 65.3% during the fourth quarter, according to the company in its most recent 13F 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 SEC filing.

A number of other large investors have also recently modified their holdings of NRDS. KLP Kapitalforvaltning AS acquired a new stake in shares of NerdWallet during the 4th quarter valued at $80,000. US Bancorp DE boosted its holdings in shares of NerdWallet by 41.2% during the 4th 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 in the last quarter. AXQ Capital LP acquired a new stake in shares of NerdWallet during the 4th quarter valued at $138,000. Bailard Inc. acquired a new stake in shares of NerdWallet during the 4th quarter valued at $160,000. Finally, SG Americas Securities LLC lifted its holdings in NerdWallet by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after buying an additional 2,364 shares during the period. Institutional investors and hedge funds own 38.81% of the company's stock.

NerdWallet Stock Performance

Shares of NRDS stock traded down $0.01 during mid-day trading on Thursday, hitting $10.72. The company's stock had a trading volume of 32,532 shares, compared to its average volume of 549,454. The company's fifty day simple moving average is $9.47 and its 200-day simple moving average is $11.73. NerdWallet, Inc. has a 52 week low of $7.55 and a 52 week high of $16.45. The company has a market cap of $798.78 million, a PE ratio of 26.72 and a beta of 1.41.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley cut their target price on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays lifted their target price on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. KeyCorp cut their target price on NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Citigroup cut their target price on NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.