Tudor Investment Corp ET AL Makes New Investment in NerdWallet, Inc. $NRDS

Tudor Investment Corp ET AL acquired a new stake in NerdWallet, Inc. (NASDAQ:NRDS) in the third quarter, Holdings Channel reports. The firm acquired 261,321 shares of the company’s stock, valued at approximately $2,812,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of NerdWallet by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock worth $42,977,000 after buying an additional 48,205 shares during the period. Arrowstreet Capital Limited Partnership increased its position in NerdWallet by 26.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after buying an additional 234,691 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of NerdWallet by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,114,055 shares of the company’s stock worth $11,988,000 after purchasing an additional 17,947 shares during the period. Millennium Management LLC raised its holdings in NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after buying an additional 166,984 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of NerdWallet by 91.9% in the 3rd quarter. UBS Group AG now owns 321,637 shares of the company’s stock worth $3,461,000 after acquiring an additional 154,055 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total transaction of $742,916.16. Following the transaction, the insider directly owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. The trade was a 29.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nicholas Tatum sold 10,151 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the transaction, the chief accounting officer owned 47,202 shares in the company, valued at $540,462.90. This represents a 17.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 86,043 shares of company stock worth $901,317. 46.54% of the stock is currently owned by company insiders.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $10.47 on Friday. The firm has a market cap of $699.29 million, a PE ratio of 16.36 and a beta of 1.42. The business has a 50 day moving average price of $10.40 and a 200-day moving average price of $12.07. NerdWallet, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Research analysts predict that NerdWallet, Inc. will post 0.36 EPS for the current year.

NerdWallet declared that its board has authorized a share buyback plan on Tuesday, December 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

NRDS has been the subject of a number of analyst reports. Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Oppenheimer dropped their price objective on NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Truist Financial cut their price target on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Wall Street Zen lowered shares of NerdWallet from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NerdWallet currently has a consensus rating of “Hold” and an average target price of $14.33.

NerdWallet Profile

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.