Tudor Investment Corp ET AL Takes $2.81 Million Position in NerdWallet, Inc. $NRDS

Key Points

• Tudor Investment Corp ET AL acquired a new 261,321‑share stake in NerdWallet valued at about $2.81 million, representing roughly 0.36% of the company at quarter‑end; overall institutional investors own 38.81% of the stock.
• NerdWallet beat quarterly estimates with EPS of $0.19 versus $0.17 and revenue of $225.4M versus $211.37M (revenue +22.6% YoY), and the board authorized a $50M buyback program to repurchase up to ~5% of outstanding shares.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of Hold with a $14.33 price target, while several firms have cut targets and Morgan Stanley downgraded the stock to Underweight with a $9 objective.

Tudor Investment Corp ET AL acquired a new stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 261,321 shares of the company's stock, valued at approximately $2,812,000. Tudor Investment Corp ET AL owned 0.36% of NerdWallet at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in NerdWallet by 80.6% during the first quarter. AQR Capital Management LLC now owns 40,432 shares of the company's stock worth $366,000 after buying an additional 18,047 shares during the last quarter. Millennium Management LLC raised its position in shares of NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company's stock worth $7,847,000 after acquiring an additional 166,984 shares during the last quarter. Creative Planning bought a new stake in NerdWallet during the 2nd quarter worth about $177,000. JPMorgan Chase & Co. raised its stake in shares of NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company's stock worth $215,000 after buying an additional 2,161 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of NerdWallet by 7.7% during the 2nd quarter. Legal & General Group Plc now owns 45,986 shares of the company's stock valued at $504,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 38.81% of the company's stock.

Analyst Ratings Changes

NRDS has been the topic of a number of analyst reports. Truist Financial cut their price target on shares of NerdWallet from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Oppenheimer cut their price target on NerdWallet from $18.00 to $15.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. Wall Street Zen cut shares of NerdWallet from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Zacks Research raised NerdWallet from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Finally, Morgan Stanley downgraded shares of NerdWallet from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.33.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $10.47 on Friday. NerdWallet, Inc. has a one year low of $7.86 and a one year high of $16.24. The stock's fifty day moving average price is $10.40 and its two-hundred day moving average price is $12.07. The firm has a market cap of $699.29 million, a price-to-earnings ratio of 16.36 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The firm's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

NerdWallet announced that its board has authorized a stock buyback program on Tuesday, December 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samuel Yount sold 71,988 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total transaction of $742,916.16. Following the sale, the insider owned 173,973 shares in the company, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Nicholas Tatum sold 10,151 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the sale, the chief accounting officer directly owned 47,202 shares in the company, valued at approximately $540,462.90. This represents a 17.70% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 86,043 shares of company stock valued at $901,317. 46.54% of the stock is currently owned by insiders.

NerdWallet Company 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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