NerdWallet (NASDAQ:NRDS) Shares Down 5.1% - Here's What Happened

Key Points

• NerdWallet shares fell 5.1% to $8.615 during Tuesday trading, with volume down 86% from the average session. The stock is trading below its 50-day and 200-day moving averages, both near $9.50.
• Analysts maintain a consensus “Hold” rating with a $12.83 price target; ratings include four Buys, three Holds and one Sell. Zacks recently upgraded the stock from “Strong Sell” to “Hold.”
• NerdWallet slightly missed quarterly EPS expectations, reporting $0.07 versus $0.09 forecast, although revenue exceeded estimates and rose 5.6% year over year. A major shareholder sold 454,872 shares, while insiders have sold nearly 2 million shares over the past 90 days.

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s share price fell 5.1% during trading on Tuesday . The stock traded as low as $8.72 and last traded at $8.6150. 120,838 shares changed hands during trading, a decline of 86% from the average session volume of 847,276 shares. The stock had previously closed at $9.08.

Analyst Ratings Changes

A number of analysts recently weighed in on NRDS shares. Zacks Research upgraded NerdWallet from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Weiss Ratings restated a "hold (c-)" rating on shares of NerdWallet in a report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.83.

NerdWallet Stock Down 7.6%

The firm's fifty day moving average price is $9.53 and its 200-day moving average price is $9.55. The stock has a market cap of $536.54 million, a P/E ratio of 9.46 and a beta of 1.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $197.30 million for the quarter, compared to analysts' expectations of $195.30 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. NerdWallet's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Sell-side analysts predict that NerdWallet, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total transaction of $4,216,663.44. Following the transaction, the insider owned 3,289,285 shares in the company, valued at $30,491,671.95. The trade was a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 1,961,860 shares of company stock worth $17,862,921. Insiders own 52.75% of the company's stock.

Institutional Investors Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRDS. Covestor Ltd bought a new stake in shares of NerdWallet during the 4th quarter valued at $34,000. New York State Teachers Retirement System purchased a new stake in NerdWallet in the first quarter worth about $41,000. Squarepoint Ops LLC purchased a new position in shares of NerdWallet during the second quarter valued at approximately $508,000. State of Wyoming lifted its holdings in shares of NerdWallet by 5.8% during the first quarter. State of Wyoming now owns 59,142 shares of the company's stock valued at $614,000 after purchasing an additional 3,263 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of NerdWallet by 286.0% in the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company's stock worth $755,000 after purchasing an additional 53,915 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

About NerdWallet

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile products provide educational content, comparison tools and personalized recommendations across areas such as credit cards, banking, personal loans, mortgages, insurance, investing and everyday money management.

The company's platform connects consumers with financial products from banks, lenders, insurers and other providers.

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