Y Intercept Hong Kong Ltd Invests $681,000 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 purchased a new stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 75,210 shares of the company's stock, valued at approximately $681,000. Y Intercept Hong Kong Ltd owned 0.10% of NerdWallet at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NRDS. American Century Companies Inc. increased its holdings in shares of NerdWallet by 8.0% in the fourth quarter. American Century Companies Inc. now owns 21,237 shares of the company's stock worth $282,000 after acquiring an additional 1,576 shares in the last quarter. Swiss National Bank increased its holdings in shares of NerdWallet by 2.1% in the fourth quarter. Swiss National Bank now owns 78,600 shares of the company's stock worth $1,045,000 after acquiring an additional 1,600 shares in the last quarter. MetLife Investment Management LLC increased its stake in NerdWallet by 12.4% during the 4th quarter. MetLife Investment Management LLC now owns 24,537 shares of the company's stock worth $326,000 after purchasing an additional 2,705 shares in the last quarter. Alliancebernstein L.P. increased its stake in NerdWallet by 13.3% during the 4th quarter. Alliancebernstein L.P. now owns 24,600 shares of the company's stock worth $327,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in NerdWallet by 34.7% during the 4th quarter. Wells Fargo & Company MN now owns 16,394 shares of the company's stock worth $218,000 after purchasing an additional 4,225 shares in the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NRDS has been the subject of a number of research reports. KeyCorp lowered their target price on NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Citigroup lowered their target price on NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

NerdWallet Price Performance

NASDAQ:NRDS traded up $0.11 during trading hours on Wednesday, reaching $10.73. 361,558 shares of the stock were exchanged, compared to its average volume of 367,349. The firm has a 50 day moving average of $10.83 and a 200 day moving average of $10.82. The stock has a market cap of $799.49 million, a PE ratio of 27.51 and a beta of 1.45. NerdWallet, Inc. has a twelve month low of $7.55 and a twelve month high of $16.45.

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.