Tudor Investment Corp ET AL Buys Shares of 261,321 NerdWallet, Inc. $NRDS

Key Points

• Tudor Investment Corp ET AL opened a new position in NerdWallet, buying 261,321 shares (~$2.81M) and now owns about 0.36% of the company, while other hedge funds also increased stakes and institutional ownership stands near 38.8%.
• Analysts are mixed on NerdWallet with a consensus rating of "Hold" and a $14.33 target, amid recent downgrades and price-target cuts (notably Morgan Stanley to $9 and Oppenheimer to $15).
• NerdWallet recently beat quarterly expectations (EPS $0.19 vs $0.17; revenue $225.4M vs $211.4M, +22.6% YoY) and authorized a $50M stock buyback, though insiders have been net sellers (86,043 shares sold in the last 90 days).

Tudor Investment Corp ET AL bought a new position in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 261,321 shares of the company's stock, valued at approximately $2,812,000. Tudor Investment Corp ET AL owned approximately 0.36% of NerdWallet as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in NerdWallet by 80.6% in the first quarter. AQR Capital Management LLC now owns 40,432 shares of the company's stock worth $366,000 after purchasing an additional 18,047 shares during the last quarter. Millennium Management LLC boosted its position in shares of NerdWallet by 23.9% in the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company's stock worth $7,847,000 after purchasing an additional 166,984 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NerdWallet by 9.7% in the 2nd quarter. Geode Capital Management LLC now owns 925,503 shares of the company's stock worth $10,154,000 after purchasing an additional 81,986 shares in the last quarter. Creative Planning purchased a new position in NerdWallet during the 2nd quarter worth $177,000. Finally, Intech Investment Management LLC increased its position in NerdWallet by 25.6% during the 2nd quarter. Intech Investment Management LLC now owns 26,416 shares of the company's stock valued at $290,000 after buying an additional 5,378 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Oppenheimer decreased their price target on NerdWallet from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Wednesday, March 4th. Morgan Stanley downgraded shares of NerdWallet from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $14.00 to $9.00 in a report on Friday, March 13th. Zacks Research lowered shares of NerdWallet from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. Finally, Truist Financial lowered their target price on shares of NerdWallet from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $14.33.

Insider Buying and Selling at NerdWallet

In other news, CAO Nicholas Tatum sold 10,151 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the transaction, the chief accounting officer owned 47,202 shares of the company's stock, valued at $540,462.90. The trade was a 17.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Samuel Yount sold 71,988 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total value of $742,916.16. Following the completion of the sale, the insider owned 173,973 shares in the company, valued at $1,795,401.36. The trade was a 29.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 86,043 shares of company stock worth $901,317. 46.54% of the stock is owned by corporate insiders.

NerdWallet Stock Performance

NerdWallet stock opened at $10.00 on Friday. The business's 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $12.11. The company has a market cap of $667.90 million, a PE ratio of 15.63 and a beta of 1.44. NerdWallet, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $16.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The firm had revenue of $225.40 million during the quarter, compared to analysts' expectations of $211.37 million. During the same period last year, the business posted $0.51 earnings per share. The company's revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current fiscal year.

NerdWallet declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

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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