NerdWallet (NASDAQ:NRDS) Reaches New 12-Month Low – Here’s What Happened

Shares of NerdWallet, Inc. (NASDAQ:NRDS) hit a new 52-week low during trading on Tuesday . The company traded as low as $8.75 and last traded at $8.77, with a volume of 337003 shares traded. The stock had previously closed at $9.02.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays upped their price objective on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Price Performance

The firm has a market cap of $667.71 million, a PE ratio of 22.53 and a beta of 1.39. The company’s 50 day moving average price is $12.35 and its 200 day moving average price is $12.93.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. Sell-side analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the completion of the transaction, the insider now directly owns 254,237 shares of the company’s stock, valued at approximately $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 45.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of NerdWallet in the 4th quarter valued at $80,000. US Bancorp DE increased its holdings in NerdWallet by 41.2% in the fourth quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after buying an additional 2,800 shares during the last quarter. AXQ Capital LP acquired a new stake in NerdWallet in the fourth quarter valued at $138,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after buying an additional 10,218 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of NerdWallet during the 3rd quarter worth about $135,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.