NerdWallet (NASDAQ:NRDS) Major Shareholder Topline Capital Partners, Lp Sells 919,153 Shares

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 919,153 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35. Following the transaction, the insider owned 4,331,992 shares of the company’s stock, valued at $38,771,328.40. This represents a 17.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $9.27, for a total transaction of $4,216,663.44.
• On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The shares were sold at an average price of $9.22, for a total transaction of $5,419,838.70.

NerdWallet Trading Down 1.5%

NASDAQ:NRDS opened at $9.25 on Wednesday. The company has a market capitalization of $608.65 million, a P/E ratio of 9.95 and a beta of 1.25. NerdWallet, Inc. has a 12 month low of $7.33 and a 12 month high of $16.24. The firm has a fifty day simple moving average of $8.96 and a 200-day simple moving average of $10.71.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share 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 analyst estimates of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The business’s revenue was up 6.2% compared to the same quarter last year. Equities analysts forecast that NerdWallet, Inc. will post 0.85 EPS for the current year.

Institutional Trading of NerdWallet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRDS. AQR Capital Management LLC boosted its position in NerdWallet by 80.6% in the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock valued at $366,000 after buying an additional 18,047 shares during the period. Millennium Management LLC raised its stake in shares of NerdWallet by 23.9% in the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after acquiring an additional 166,984 shares in the last quarter. Creative Planning acquired a new stake in shares of NerdWallet in the second quarter valued at $177,000. JPMorgan Chase & Co. boosted its holdings in NerdWallet by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after purchasing an additional 2,161 shares during the period. Finally, Legal & General Group Plc boosted its holdings in NerdWallet by 7.7% in the second quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock valued at $504,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NRDS. Truist Financial decreased their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley cut NerdWallet from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $14.00 to $9.00 in a report on Friday, March 13th. Zacks Research upgraded NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.83.

NerdWallet Company Profile

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.