NerdWallet (NASDAQ:NRDS) Trading Down 5.2% - Should You Sell?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shares traded down 5.2% during trading on Friday . The stock traded as low as $10.85 and last traded at $10.70. 82,132 shares were traded during mid-day trading, a decline of 85% from the average session volume of 564,114 shares. The stock had previously closed at $11.29.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp lowered their price objective on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Citigroup lowered their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NerdWallet presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

NerdWallet Stock Performance

The business has a 50-day moving average price of $10.84 and a 200 day moving average price of $11.12. The stock has a market capitalization of $793.19 million, a P/E ratio of 27.33 and a beta of 1.45.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds have recently added to or reduced their stakes in NRDS. Topline Capital Management LLC purchased a new position in NerdWallet in the 4th quarter worth approximately $69,840,000. Quinn Opportunity Partners LLC raised 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 valued at $11,887,000 after buying an additional 867,681 shares during the last quarter. Alta Fox Capital Management LLC purchased a new stake in NerdWallet during the 4th quarter valued at $10,761,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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. Finally, Millennium Management LLC raised its stake in NerdWallet by 325.8% during the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company's stock valued at $9,312,000 after buying an additional 535,701 shares during the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Company 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.

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