NerdWallet (NASDAQ:NRDS) Sets New 12-Month Low – Should You Sell?

NerdWallet, Inc. (NASDAQ:NRDS) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.03 and last traded at $9.09, with a volume of 107532 shares traded. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NRDS. Morgan Stanley cut their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Barclays raised their target price on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, NerdWallet presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

NerdWallet Stock Performance

The stock’s 50 day moving average price is $13.12 and its 200 day moving average price is $13.13. The company has a market capitalization of $674.31 million, a P/E ratio of 22.73 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. On average, analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Samuel Yount sold 76,185 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $13.40, for a total value of $1,020,879.00. Following the transaction, the insider now owns 522,656 shares in the company, valued at $7,003,590.40. This trade represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 810,497 shares of company stock worth $10,884,981 over the last three months. 45.93% of the stock is currently owned by insiders.

Institutional Trading of NerdWallet

Several institutional investors and hedge funds have recently made changes to their positions in NRDS. US Bancorp DE bought a new stake in NerdWallet in the 3rd quarter worth about $86,000. Los Angeles Capital Management LLC grew its holdings in shares of NerdWallet by 5.8% in the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after acquiring an additional 1,190 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in NerdWallet by 138.4% during the third quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after acquiring an additional 28,644 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in NerdWallet by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after purchasing an additional 86,029 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in NerdWallet in the 3rd quarter valued at $135,000. 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.