Hsbc Holdings PLC Makes New Investment in NerdWallet, Inc. (NASDAQ:NRDS)

Hsbc Holdings PLC acquired a new stake in NerdWallet, Inc. (NASDAQ:NRDS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,881 shares of the company's stock, valued at approximately $354,000.

Several other institutional investors and hedge funds have also made changes to their positions in NRDS. Quinn Opportunity Partners LLC increased its stake in NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after buying an additional 867,681 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after buying an additional 555,329 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of NerdWallet by 153.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company's stock valued at $10,197,000 after buying an additional 463,758 shares during the last quarter. Norges Bank acquired a new stake in shares of NerdWallet during the 4th quarter worth approximately $3,785,000. Finally, Marshall Wace LLP acquired a new stake in shares of NerdWallet during the 4th quarter worth approximately $3,477,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NRDS shares. KeyCorp decreased their price objective on NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Morgan Stanley reduced their price objective on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Citigroup decreased their price target on NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Barclays raised their target price on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.00.

NerdWallet Trading Up 6.9%

NerdWallet stock traded up $0.76 during trading hours on Monday, reaching $11.85. 651,086 shares of the company were exchanged, compared to its average volume of 545,373. The stock has a 50-day moving average of $8.97 and a 200 day moving average of $11.98. The firm has a market cap of $878.18 million, a price-to-earnings ratio of 29.63 and a beta of 1.41. NerdWallet, Inc. has a 12 month low of $7.55 and a 12 month high of $16.45.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $183.80 million during the quarter, compared to analysts' expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. As a group, research analysts forecast that NerdWallet, Inc. will post 0.36 EPS for the current year.

NerdWallet Profile

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.