Vanguard Group Inc. Buys 187,422 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Vanguard Group Inc. grew its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS - Free Report) by 5.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,526,688 shares of the company's stock after acquiring an additional 187,422 shares during the period. Vanguard Group Inc. owned about 4.63% of NerdWallet worth $31,352,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Deutsche Bank AG raised its stake in shares of NerdWallet by 17.8% during the third quarter. Deutsche Bank AG now owns 16,737 shares of the company's stock valued at $149,000 after acquiring an additional 2,531 shares during the last quarter. Royal Bank of Canada raised its stake in NerdWallet by 383.0% during the third quarter. Royal Bank of Canada now owns 137,489 shares of the company's stock worth $1,222,000 after buying an additional 109,023 shares during the last quarter. Legal & General Group Plc raised its stake in NerdWallet by 10.1% during the third quarter. Legal & General Group Plc now owns 26,022 shares of the company's stock worth $231,000 after buying an additional 2,379 shares during the last quarter. Steamboat Capital Partners LLC raised its stake in NerdWallet by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 442,761 shares of the company's stock worth $3,936,000 after buying an additional 8,215 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in NerdWallet by 70.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,159 shares of the company's stock worth $1,415,000 after buying an additional 65,931 shares during the last quarter. Institutional investors own 38.81% of the company's stock.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of analyst reports. TheStreet raised shares of NerdWallet from a "d+" rating to a "c-" rating in a research note on Thursday, December 21st. Truist Financial lowered their target price on shares of NerdWallet from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Barclays lifted their target price on shares of NerdWallet from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, February 15th. KeyCorp lifted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, February 12th. Finally, Citigroup raised their price target on shares of NerdWallet from $11.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, NerdWallet has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Insider Activity

In other news, VP Samuel Yount sold 6,309 shares of NerdWallet stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the completion of the transaction, the vice president now directly owns 2,350,242 shares in the company, valued at $37,979,910.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 45.89% of the company's stock.

NerdWallet Price Performance

Shares of NASDAQ NRDS traded down $0.30 during mid-day trading on Friday, reaching $13.85. 221,154 shares of the company's stock traded hands, compared to its average volume of 333,853. The stock has a market cap of $1.07 billion, a P/E ratio of -86.56 and a beta of 1.39. The business has a 50-day simple moving average of $15.47 and a 200 day simple moving average of $13.19. NerdWallet, Inc. has a 1-year low of $6.38 and a 1-year high of $17.30.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.14). The business had revenue of $133.70 million for the quarter, compared to analyst estimates of $138.43 million. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that NerdWallet, Inc. will post 0.22 earnings per share for the current fiscal year.

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.