Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Decreases By 20.3%

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 2,280,000 shares, a drop of 20.3% from the February 13th total of 2,860,000 shares. Based on an average trading volume of 588,300 shares, the short-interest ratio is currently 3.9 days. Approximately 6.5% of the company’s stock are short sold.

Insider Transactions at NerdWallet

In other news, insider Samuel Yount sold 3,003 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $13.45, for a total transaction of $40,390.35. Following the sale, the insider now owns 401,101 shares of the company’s stock, valued at approximately $5,394,808.45. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 45.93% of the company’s stock.

Institutional Trading of NerdWallet

Institutional investors have recently modified their holdings of the business. US Bancorp DE acquired a new position in NerdWallet during the third quarter worth $86,000. Los Angeles Capital Management LLC raised its holdings in NerdWallet by 5.8% during the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after purchasing an additional 1,190 shares during the last quarter. GSA Capital Partners LLP raised its holdings in NerdWallet by 138.4% during the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after purchasing an additional 28,644 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in NerdWallet by 32.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after purchasing an additional 86,029 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in NerdWallet during the third quarter worth $135,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley cut their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays lifted their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One investment analyst has 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Price Performance

Shares of NRDS stock traded up $0.21 during midday trading on Wednesday, hitting $8.98. The company had a trading volume of 709,381 shares, compared to its average volume of 509,934. The company’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $12.95. NerdWallet has a 52-week low of $8.75 and a 52-week high of $16.45. The stock has a market cap of $665.49 million, a price-to-earnings ratio of 22.45 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The firm had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. Analysts anticipate that NerdWallet will post 0.36 EPS for the current 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.