NerdWallet (NASDAQ:NRDS) Price Target Cut to $12.00 by Analysts at Morgan Stanley

NerdWallet (NASDAQ:NRDS) had its price objective reduced by Morgan Stanley from $15.00 to $12.00 in a research report report published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on NRDS. Barclays boosted their price objective 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. KeyCorp boosted their price target on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Trading Down 2.7 %

NASDAQ NRDS opened at $10.20 on Monday. The stock has a market cap of $749.08 million, a PE ratio of 25.50 and a beta of 1.33. NerdWallet has a 12 month low of $9.99 and a 12 month high of $17.30. The company’s 50-day moving average price is $13.57 and its 200-day moving average price is $13.21.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 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 business had revenue of $183.80 million for the quarter, compared to the consensus estimate of $168.33 million. As a group, sell-side analysts forecast that NerdWallet will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Samuel Yount sold 440,336 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the sale, the chief financial officer now owns 313,100 shares of the company’s stock, valued at $4,395,924. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 822,353 shares of company stock valued at $11,051,439. 45.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NerdWallet by 69.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company’s stock worth $1,238,000 after buying an additional 38,070 shares during the period. Point72 Asia Singapore Pte. Ltd. increased 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. Nuveen Asset Management LLC raised its holdings in shares of NerdWallet by 52.8% during the fourth quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company’s stock worth $9,091,000 after purchasing an additional 236,320 shares during the last quarter. Millennium Management LLC lifted its position in NerdWallet by 325.8% during the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after purchasing an additional 535,701 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in NerdWallet by 14.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 569,106 shares of the company’s stock valued at $7,569,000 after purchasing an additional 70,862 shares during the period. 38.81% of the stock is currently 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.