Connor Clark & Lunn Investment Management Ltd. Buys 555,329 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Connor Clark & Lunn Investment Management Ltd. grew its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 157.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 908,468 shares of the company’s stock after acquiring an additional 555,329 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.24% of NerdWallet worth $12,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE bought a new stake in shares of NerdWallet in the 3rd quarter valued at about $86,000. Intech Investment Management LLC bought a new stake in shares of NerdWallet in the 3rd quarter valued at about $135,000. Bailard Inc. bought a new stake in NerdWallet during the 4th quarter worth approximately $160,000. SG Americas Securities LLC increased its stake in NerdWallet by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock worth $216,000 after purchasing an additional 2,364 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in NerdWallet during the 3rd quarter worth approximately $220,000. 38.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NRDS shares. Barclays increased their target price on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley lowered their target price on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Stock Up 2.7 %

NASDAQ:NRDS opened at $9.01 on Friday. NerdWallet, Inc. has a twelve month low of $8.76 and a twelve month high of $16.45. The business has a 50 day moving average price of $12.68 and a two-hundred day moving average price of $13.01. The company has a market cap of $667.71 million, a P/E ratio of 22.53 and a beta of 1.40.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $168.33 million. As a group, analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of the company’s stock in a transaction that occurred on 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 owns 254,237 shares of the company’s stock, valued at $3,429,657.13. This represents a 63.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 669,145 shares of company stock valued at $8,965,449 in the last quarter. 45.93% of the stock is currently owned by insiders.

NerdWallet 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.