NerdWallet (NASDAQ:NRDS) Trading Down 6.5% – Time to Sell?

NerdWallet, Inc. (NASDAQ:NRDS)’s share price was down 6.5% during trading on Monday . The stock traded as low as $12.94 and last traded at $12.99. Approximately 79,390 shares traded hands during trading, a decline of 87% from the average daily volume of 620,470 shares. The stock had previously closed at $13.90.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research upgraded NerdWallet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. KeyCorp increased their target price on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of NerdWallet in a research note on Wednesday, October 8th. Barclays upped their price target on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley increased their price objective on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.40.

NerdWallet Trading Down 5.5%

The company has a market cap of $955.41 million, a price-to-earnings ratio of 13.69 and a beta of 1.43. The business has a 50-day moving average price of $14.12 and a 200 day moving average price of $11.95.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Thursday, November 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $215.10 million during the quarter, compared to the consensus estimate of $193.31 million. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.NerdWallet’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

NerdWallet declared that its board has authorized a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at NerdWallet

In related news, insider Samuel Yount sold 15,945 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total value of $255,757.80. Following the completion of the transaction, the insider owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 44,231 shares of company stock valued at $669,277. 45.93% of the stock is currently owned by corporate insiders.

Institutional Trading of NerdWallet

Several hedge funds and other institutional investors have recently modified their holdings of NRDS. JPMorgan Chase & Co. lifted its stake in NerdWallet by 400.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after acquiring an additional 78,447 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of NerdWallet in the third quarter worth approximately $2,812,000. Polymer Capital Management US LLC acquired a new stake in shares of NerdWallet during the third quarter worth approximately $111,000. Qube Research & Technologies Ltd acquired a new position in NerdWallet in the 3rd quarter valued at approximately $136,000. Finally, Prelude Capital Management LLC purchased a new stake in NerdWallet in the 3rd quarter worth approximately $119,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.