Vanguard Group Inc. Sells 296,318 Shares of NerdWallet, Inc. $NRDS

Key Points

• Vanguard Group cut its NerdWallet stake by 7.4% in the fourth quarter, selling 296,318 shares and leaving it with 3.7 million shares worth about $50.1 million.
• NerdWallet reported better-than-expected EPS of $0.29 in its latest quarterly results, though revenue of $222.2 million came in slightly below analyst estimates.
• Analyst sentiment remains mixed: several firms lowered price targets, and the stock currently carries an average Hold rating with a consensus price target of $12.83.

Vanguard Group Inc. lowered its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,697,862 shares of the company's stock after selling 296,318 shares during the period. Vanguard Group Inc. owned about 5.09% of NerdWallet worth $50,106,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company's stock valued at $43,000 after acquiring an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of NerdWallet during the third quarter valued at $111,000. Moran Wealth Management LLC bought a new position in shares of NerdWallet during the fourth quarter valued at $148,000. Olympiad Research LP bought a new position in shares of NerdWallet during the third quarter valued at $119,000. Finally, Prelude Capital Management LLC bought a new position in shares of NerdWallet during the third quarter valued at $119,000. Institutional investors own 38.81% of the company's stock.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total value of $742,916.16. Following the completion of the sale, the insider directly owned 173,973 shares in the company, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the sale, the chief accounting officer directly owned 47,202 shares of the company's stock, valued at approximately $540,462.90. This trade represents a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 86,043 shares of company stock valued at $901,317. 52.75% of the stock is currently owned by corporate insiders.

NerdWallet Stock Up 2.5%

NRDS opened at $7.77 on Friday. NerdWallet, Inc. has a twelve month low of $7.33 and a twelve month high of $16.24. The company has a fifty day moving average of $10.27 and a 200-day moving average of $11.95. The stock has a market cap of $511.26 million, a PE ratio of 8.35 and a beta of 1.34.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company had revenue of $222.20 million during the quarter, compared to analysts' expectations of $227.63 million. NerdWallet's revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that NerdWallet, Inc. will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NRDS has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of NerdWallet from $15.00 to $12.00 and set an "outperform" rating for the company in a research note on Monday. Zacks Research cut shares of NerdWallet from a "hold" rating to a "strong sell" rating in a research report on Monday, May 4th. Morgan Stanley cut shares of NerdWallet from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $14.00 to $9.00 in a research report on Friday, March 13th. Citigroup decreased their price objective on shares of NerdWallet from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Finally, KeyCorp decreased their price objective on shares of NerdWallet from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Four equities 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. According to MarketBeat, NerdWallet currently has an average rating of "Hold" and a consensus price target of $12.83.

About NerdWallet

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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