NerdWallet (NASDAQ:NRDS) Reaches New 12-Month Low – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price reached a new 52-week low during trading on Tuesday . The stock 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 commented on the stock. Barclays boosted their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley dropped their price target on shares of 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Price Performance

The firm has a market cap of $649.93 million, a price-to-earnings ratio of 21.93 and a beta of 1.39. The company’s 50 day simple moving average is $12.57 and its 200 day simple moving average is $12.98.

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

Insider Transactions at NerdWallet

In related news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 597,804 shares of company stock valued at $8,010,193. Insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Institutional investors and hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of NerdWallet during the fourth quarter worth about $80,000. US Bancorp DE boosted its stake in shares of NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company’s stock worth $128,000 after buying an additional 2,800 shares during the period. Intech Investment Management LLC acquired a new stake in shares of NerdWallet during the third quarter worth about $135,000. AXQ Capital LP acquired a new stake in shares of NerdWallet during the fourth quarter worth about $138,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of NerdWallet by 3,417.4% during the fourth 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 period. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.