Geode Capital Management LLC Raises Stock Holdings in NerdWallet, Inc. $NRDS

Geode Capital Management LLC boosted its stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 925,503 shares of the company’s stock after purchasing an additional 81,986 shares during the quarter. Geode Capital Management LLC’s holdings in NerdWallet were worth $10,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of NerdWallet during the first quarter valued at about $114,000. Magnetar Financial LLC bought a new position in shares of NerdWallet during the 1st quarter worth approximately $130,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NerdWallet by 57.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,769 shares of the company’s stock valued at $134,000 after acquiring an additional 5,389 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in NerdWallet during the second quarter valued at approximately $146,000. Finally, Fox Run Management L.L.C. acquired a new stake in NerdWallet in the first quarter valued at approximately $154,000. 38.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NRDS shares. Morgan Stanley upped their price target on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. KeyCorp upped their target price on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Zacks Research upgraded NerdWallet from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Finally, Truist Financial upped their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.40.

Insider Activity at NerdWallet

In related news, insider Samuel Yount sold 12,129 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $14.34, for a total value of $173,929.86. Following the transaction, the insider owned 389,622 shares in the company, valued at approximately $5,587,179.48. This represents a 3.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nicholas Tatum sold 4,272 shares of NerdWallet stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $10.76, for a total transaction of $45,966.72. Following the sale, the chief accounting officer owned 68,020 shares of the company’s stock, valued at approximately $731,895.20. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,962 shares of company stock worth $449,992. 46.54% of the stock is owned by corporate insiders.

NerdWallet Price Performance

Shares of NRDS stock opened at $15.55 on Thursday. The business has a fifty day moving average of $12.44 and a 200 day moving average of $11.31. NerdWallet, Inc. has a 1 year low of $7.55 and a 1 year high of $16.24. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 16.20 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The business had revenue of $215.10 million for the quarter, compared to analyst estimates of $193.31 million. NerdWallet’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

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.