NerdWallet (NASDAQ:NRDS) Shares Gap Up to $13.52

NerdWallet, Inc. (NASDAQ:NRDS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $13.52, but opened at $14.41. NerdWallet shares last traded at $13.16, with a volume of 76,130 shares trading hands.

Wall Street Analysts Forecast Growth

NRDS has been the topic of several recent analyst reports. KeyCorp upped their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Citigroup upped their price target on NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Truist Financial decreased their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Barclays increased their target price on NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

NerdWallet Stock Performance

The company has a 50 day moving average of $15.01 and a 200-day moving average of $13.52. The stock has a market cap of $992.62 million, a price-to-earnings ratio of -75.82 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $161.90 million for the quarter, compared to analyst estimates of $156.95 million. NerdWallet had a negative return on equity of 3.39% and a negative net margin of 2.10%. NerdWallet’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. On average, research analysts anticipate that NerdWallet, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 6,309 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the sale, the vice president now owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 45.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NerdWallet by 112.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,643 shares of the company’s stock valued at $68,000 after acquiring an additional 4,053 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of NerdWallet in the 4th quarter valued at about $110,000. Prudent Man Advisors LLC purchased a new position in NerdWallet during the 3rd quarter worth approximately $111,000. SG Americas Securities LLC purchased a new position in NerdWallet during the 4th quarter worth approximately $133,000. Finally, Arizona State Retirement System purchased a new position in NerdWallet during the 4th quarter worth approximately $151,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.