Topline Capital Partners, Lp Sells 587,835 Shares of NerdWallet (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 587,835 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $9.22, for a total value of $5,419,838.70. Following the completion of the transaction, the insider directly owned 3,744,157 shares in the company, valued at approximately $34,521,127.54. This trade represents a 13.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Tuesday, June 30th, Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Trading Up 1.1%

NASDAQ NRDS opened at $9.35 on Thursday. The stock has a 50-day simple moving average of $8.92 and a 200 day simple moving average of $10.67. The company has a market capitalization of $615.23 million, a PE ratio of 10.05 and a beta of 1.23. NerdWallet, Inc. has a 12 month low of $7.33 and a 12 month high of $16.24.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Truist Financial cut their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $14.00 to $9.00 in a research report on Friday, March 13th. Citigroup decreased their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings cut shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.83.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of NRDS. Covestor Ltd bought a new position in NerdWallet in the fourth quarter valued at approximately $34,000. New York State Teachers Retirement System bought a new stake in shares of NerdWallet during the first quarter worth $41,000. Tower Research Capital LLC TRC increased its position in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after acquiring an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of NerdWallet during the third quarter worth $111,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of NerdWallet during the third quarter worth $119,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

About NerdWallet

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.