507,122 Shares in NerdWallet, Inc. (NASDAQ:NRDS) Bought by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. bought a new stake in shares of NerdWallet, Inc. (NASDAQ:NRDS) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 507,122 shares of the company’s stock, valued at approximately $6,446,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of NerdWallet by 12.1% during the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after purchasing an additional 432,262 shares in the last quarter. SG Americas Securities LLC purchased a new position in NerdWallet during the 2nd quarter valued at approximately $445,000. Bank of New York Mellon Corp grew its holdings in NerdWallet by 27.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock valued at $1,794,000 after buying an additional 26,572 shares in the last quarter. Legato Capital Management LLC bought a new stake in NerdWallet in the 2nd quarter worth approximately $555,000. Finally, Natixis Advisors LLC bought a new position in shares of NerdWallet during the 2nd quarter valued at approximately $250,000. 38.81% of the stock is currently owned by institutional investors.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $14.00 on Monday. NerdWallet, Inc. has a 1 year low of $10.10 and a 1 year high of $17.30. The firm has a 50-day simple moving average of $13.24 and a two-hundred day simple moving average of $13.37. The company has a market cap of $1.03 billion, a P/E ratio of -99.99 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $191.30 million during the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. NerdWallet’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. As a group, equities research analysts expect that NerdWallet, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Barclays increased their price target on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of NerdWallet stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This trade represents a 8.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Topline Capital Management, Ll bought 49,722 shares of the stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $12.05 per share, with a total value of $599,150.10. Following the completion of the acquisition, the insider now directly owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This trade represents a 1.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 45.93% of the company’s stock.

NerdWallet 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.