NerdWallet (NASDAQ:NRDS) Shares Gap Up to $12.32

NerdWallet, Inc. (NASDAQ:NRDS) gapped up before the market opened on Tuesday . The stock had previously closed at $12.32, but opened at $12.65. NerdWallet shares last traded at $12.11, with a volume of 1,719,744 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on NRDS. Truist Financial lowered their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Oppenheimer lowered their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays cut their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NerdWallet has an average rating of “Moderate Buy” and a consensus price target of $16.00.

NerdWallet Stock Down 0.1 %

The company has a market capitalization of $951.51 million, a PE ratio of -72.47 and a beta of 1.43. The company’s 50 day moving average is $13.34 and its two-hundred day moving average is $13.95.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. Analysts forecast that NerdWallet, Inc. will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other news, VP Samuel Yount sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the transaction, the vice president now directly owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds have recently bought and sold shares of NRDS. Quarry LP purchased a new stake in shares of NerdWallet during the 2nd quarter valued at about $31,000. Olympiad Research LP purchased a new stake in NerdWallet during the fourth quarter valued at approximately $173,000. Algert Global LLC bought a new stake in shares of NerdWallet in the 2nd quarter valued at approximately $196,000. The Manufacturers Life Insurance Company boosted its holdings in shares of NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after purchasing an additional 2,172 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after purchasing an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.