NerdWallet (NASDAQ:NRDS) Shares Gap Down – Here’s Why

Shares of NerdWallet, Inc. (NASDAQ:NRDS) gapped down before the market opened on Wednesday . The stock had previously closed at $9.33, but opened at $9.00. NerdWallet shares last traded at $9.29, with a volume of 104,131 shares changing hands.

Analysts Set New Price Targets

NRDS has been the topic of several analyst reports. Barclays boosted their target price on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley dropped their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Price Performance

The firm has a 50-day simple moving average of $11.46 and a 200-day simple moving average of $12.72. The firm has a market capitalization of $685.13 million, a PE ratio of 23.08 and a beta of 1.39.

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

Insider Transactions at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 254,237 shares in the company, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 45.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRDS. KLP Kapitalforvaltning AS bought a new stake in NerdWallet during the 4th quarter worth approximately $80,000. US Bancorp DE boosted its holdings in NerdWallet by 41.2% in the 4th 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 bought a new stake in NerdWallet during the third quarter valued at about $135,000. AXQ Capital LP purchased a new position in shares of NerdWallet in the fourth quarter valued at about $138,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of NerdWallet by 3,417.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after acquiring an additional 10,218 shares during the period. 38.81% of the stock is currently owned by 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.