NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Update

Key Points

• Short interest fell 15.4% in March to 5,106,596 shares, equal to about 14.3% of shares sold short and a days-to-cover ratio of 5.2.
• Q4 results beat expectations: NerdWallet reported $0.19 EPS vs $0.17 expected and revenue of $225.4M (up 22.6% year-over-year, vs $211.4M consensus).
• Insider selling and mixed analyst views: insiders sold 86,043 shares over the last 90 days (insiders still own 46.54%), while analysts remain split with an average "Hold" rating and a $14.33 target amid recent upgrades and price-target cuts.

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totaling 5,106,596 shares, a decrease of 15.4% from the March 15th total of 6,035,697 shares. Based on an average daily trading volume, of 984,977 shares, the days-to-cover ratio is currently 5.2 days. Approximately 14.3% of the shares of the company are sold short.

NerdWallet Stock Up 1.4%

Shares of NRDS stock traded up $0.15 during trading hours on Friday, reaching $10.95. The company's stock had a trading volume of 397,972 shares, compared to its average volume of 661,990. The firm's 50 day simple moving average is $10.36 and its 200-day simple moving average is $12.07. The company has a market capitalization of $731.35 million, a price-to-earnings ratio of 17.11 and a beta of 1.42. NerdWallet has a fifty-two week low of $8.22 and a fifty-two week high of $16.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $225.40 million for the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The company's revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. Sell-side analysts predict that NerdWallet will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

NRDS has been the topic of a number of recent research reports. Wall Street Zen upgraded NerdWallet from a "buy" rating to a "strong-buy" rating in a research note on Sunday, April 12th. Oppenheimer lowered their price objective on NerdWallet from $18.00 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley lowered NerdWallet from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $14.00 to $9.00 in a research note on Friday, March 13th. Truist Financial lowered their price objective on NerdWallet from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, Zacks Research raised NerdWallet from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NerdWallet has an average rating of "Hold" and an average target price of $14.33.

Insiders Place Their Bets

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95. Following the transaction, the chief accounting officer owned 47,202 shares in the company, valued at $540,462.90. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel Yount sold 71,988 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total value of $742,916.16. Following the transaction, the insider owned 173,973 shares in the company, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 86,043 shares of company stock worth $901,317. Insiders own 46.54% of the company's stock.

Institutional Investors Weigh In On NerdWallet

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in shares of NerdWallet by 80.6% during the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company's stock valued at $366,000 after acquiring an additional 18,047 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of NerdWallet by 23.9% during the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company's stock valued at $7,847,000 after acquiring an additional 166,984 shares in the last quarter. Creative Planning acquired a new stake in shares of NerdWallet during the 2nd quarter valued at $177,000. JPMorgan Chase & Co. boosted its holdings in shares of NerdWallet by 12.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company's stock valued at $215,000 after acquiring an additional 2,161 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of NerdWallet by 7.7% during the 2nd quarter. Legal & General Group Plc now owns 45,986 shares of the company's stock valued at $504,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 38.81% of the company's stock.

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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