Y Intercept Hong Kong Ltd Takes Position in NerdWallet, Inc. (NASDAQ:NRDS)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in NerdWallet, Inc., purchasing 75,210 shares valued at approximately $681,000, representing about 0.10% of the company.
• Other institutional investors have also significantly increased their holdings in NerdWallet, with Topline Capital Management alone investing nearly $69.8 million in the fourth quarter.
• Wall Street analysts have adjusted their price targets for NerdWallet, with KeyCorp lowering its target to $14.00 and Citigroup to $11.00, while the consensus rating remains a "Moderate Buy".

Y Intercept Hong Kong Ltd bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,210 shares of the company's stock, valued at approximately $681,000. Y Intercept Hong Kong Ltd owned 0.10% of NerdWallet as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in NRDS. Topline Capital Management LLC acquired a new position in NerdWallet in the fourth quarter valued at approximately $69,840,000. Quinn Opportunity Partners LLC boosted its holdings in NerdWallet by 3,324.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock valued at $11,887,000 after purchasing an additional 867,681 shares in the last quarter. Alta Fox Capital Management LLC acquired a new position in NerdWallet in the fourth quarter valued at approximately $10,761,000. Millennium Management LLC boosted its holdings in NerdWallet by 325.8% in the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company's stock valued at $9,312,000 after purchasing an additional 535,701 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of NerdWallet by 153.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock valued at $10,197,000 after acquiring an additional 463,758 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NRDS. Citigroup decreased their price target on NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. KeyCorp cut their price objective on NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NerdWallet has an average rating of "Moderate Buy" and a consensus price target of $15.00.

NerdWallet Trading Down 2.3%

Shares of NRDS stock traded down $0.25 during mid-day trading on Tuesday, reaching $10.68. The stock had a trading volume of 124,978 shares, compared to its average volume of 513,135. NerdWallet, Inc. has a 12-month low of $7.55 and a 12-month high of $16.45. The company has a market cap of $795.77 million, a P/E ratio of 27.39 and a beta of 1.45. The business has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $10.82.

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.