Nicholas Tatum Sells 893 Shares of NerdWallet (NASDAQ:NRDS) Stock

Key Points

• Nicholas Tatum, NerdWallet's chief accounting officer, sold a total of 11,044 shares over March 4–5 (893 shares on Mar 4 and 10,151 shares on Mar 5) at an average price of $11.45, generating about $126,454 and leaving him with 57,948 shares.
• NerdWallet beat quarterly expectations with $0.19 EPS vs. $0.17 expected and $225.4M revenue (up 22.6% YoY), and its board authorized a $50 million share buyback program (up to ~5% of shares outstanding).
• The stock traded around $11.16 (down 1.5%), has a market cap of about $745M and a P/E of 17.44, while analysts show mixed views with an average price target of $15.17, implying potential upside from current levels.

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) CAO Nicholas Tatum sold 893 shares of NerdWallet stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $11.45, for a total value of $10,224.85. Following the completion of the transaction, the chief accounting officer owned 57,948 shares of the company's stock, valued at $663,504.60. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Nicholas Tatum also recently made the following trade(s):

• On Thursday, March 5th, Nicholas Tatum sold 10,151 shares of NerdWallet stock. The shares were sold at an average price of $11.45, for a total value of $116,228.95.

NerdWallet Stock Down 1.5%

NASDAQ:NRDS traded down $0.17 during trading hours on Friday, reaching $11.16. 976,076 shares of the stock were exchanged, compared to its average volume of 1,214,935. The firm has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $12.11. NerdWallet, Inc. has a 52 week low of $7.55 and a 52 week high of $16.24. The stock has a market capitalization of $745.38 million, a P/E ratio of 17.44 and a beta of 1.44.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly 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 business had revenue of $225.40 million during 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 business's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. As a group, analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

NerdWallet announced that its board has authorized a stock repurchase plan on Tuesday, December 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd bought a new stake in shares of NerdWallet during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its holdings in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company's stock worth $43,000 after buying an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in NerdWallet in the 3rd quarter valued at approximately $111,000. Moran Wealth Management LLC acquired a new stake in NerdWallet in the 4th quarter valued at approximately $148,000. Finally, Swiss Life Asset Management Ltd bought a new stake in NerdWallet during the 4th quarter valued at $150,000. Institutional investors own 38.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of NerdWallet from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. Truist Financial dropped their price objective on shares of NerdWallet from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Barclays lifted their target price on NerdWallet from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, November 7th. Oppenheimer lowered their target price on NerdWallet from $18.00 to $15.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Morgan Stanley raised their price target on NerdWallet from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NerdWallet currently has an average rating of "Hold" and an average target price of $15.17.

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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