NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Down 20.3% in February

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,280,000 shares, a drop of 20.3% from the February 13th total of 2,860,000 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average daily volume of 588,300 shares, the days-to-cover ratio is presently 3.9 days.

NerdWallet Trading Down 2.8 %

NRDS traded down $0.25 during midday trading on Tuesday, reaching $8.77. The company’s stock had a trading volume of 440,694 shares, compared to its average volume of 508,786. NerdWallet has a twelve month low of $8.76 and a twelve month high of $16.45. The stock has a market cap of $649.93 million, a P/E ratio of 21.93 and a beta of 1.39. The company has a fifty day simple moving average of $12.57 and a 200 day simple moving average of $12.98.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The company had revenue of $183.80 million for the quarter, compared to analyst estimates of $168.33 million. Sell-side analysts expect that NerdWallet will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays raised their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley dropped their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Buying and Selling

In other NerdWallet news, insider Samuel Yount sold 3,003 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $13.45, for a total value of $40,390.35. Following the completion of the sale, the insider now owns 401,101 shares in the company, valued at $5,394,808.45. This represents a 0.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 597,804 shares of company stock worth $8,010,193. 45.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On NerdWallet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of NerdWallet in the fourth quarter valued at approximately $80,000. US Bancorp DE bought a new stake in shares of NerdWallet during the third quarter worth $86,000. Intech Investment Management LLC acquired a new stake in shares of NerdWallet in the third quarter valued at approximately $135,000. AXQ Capital LP acquired a new stake in NerdWallet in the fourth quarter worth about $138,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after purchasing an additional 10,218 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Company 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.