NerdWallet, Inc. (NASDAQ:NRDS) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in NerdWallet, Inc. (NASDAQ:NRDS) by 32.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 353,139 shares of the company’s stock after purchasing an additional 86,029 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.48% of NerdWallet worth $4,488,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC raised its stake in NerdWallet by 5.8% during the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after buying an additional 1,190 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after acquiring an additional 1,561 shares during the last quarter. Marshall Wace LLP raised its position in shares of NerdWallet by 2.0% during the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock valued at $1,545,000 after acquiring an additional 2,070 shares in the last quarter. Quarry LP bought a new position in NerdWallet during the second quarter worth $31,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in NerdWallet by 16.9% in the second 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. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Price Performance

NRDS opened at $13.75 on Friday. The stock’s 50 day moving average price is $13.12 and its 200 day moving average price is $13.38. The stock has a market cap of $1.01 billion, a P/E ratio of -98.21 and a beta of 1.39. NerdWallet, Inc. has a 12 month low of $10.10 and a 12 month high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. Equities analysts anticipate that NerdWallet, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

NRDS has been the topic of a number of research reports. Oppenheimer dropped their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial decreased their target price on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Barclays increased their price target on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares of the company’s stock, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Topline Capital Management, Ll bought 49,722 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average cost of $12.05 per share, with a total value of $599,150.10. Following the purchase, the insider now directly owns 4,839,090 shares of the company’s stock, valued at approximately $58,311,034.50. This represents a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.93% of the stock is 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.