Topline Capital Partners, Lp Sells 454,872 Shares of NerdWallet (NASDAQ:NRDS) Stock

NerdWallet, Inc. (NASDAQ:NRDS) major shareholder Topline Capital Partners, Lp sold 454,872 shares of NerdWallet stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44. Following the completion of the transaction, the insider owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. The trade was a 12.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 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 value of $5,419,838.70.
• On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Price Performance

Shares of NRDS opened at $9.35 on Thursday. The business’s fifty day moving average price is $8.92 and its 200 day moving average price is $10.67. NerdWallet, Inc. has a 12-month low of $7.33 and a 12-month high of $16.24. The stock has a market capitalization of $615.23 million, a PE ratio of 10.05 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $222.20 million during 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% on a year-over-year basis. As a group, research analysts anticipate that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NerdWallet

Several institutional investors have recently modified their holdings of NRDS. Covestor Ltd acquired a new stake in shares of NerdWallet in the fourth quarter valued at approximately $34,000. New York State Teachers Retirement System acquired a new position in shares of NerdWallet during the first quarter worth approximately $41,000. Tower Research Capital LLC TRC boosted 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 buying an additional 1,054 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of NerdWallet during the third quarter worth approximately $111,000. Finally, Prelude Capital Management LLC bought a new position in NerdWallet in the 3rd quarter worth approximately $119,000. Institutional investors own 38.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Oppenheimer decreased their target price on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. KeyCorp lowered their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Zacks Research upgraded NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Four 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.83.

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.