Quantinno Capital Management LP Purchases 53,915 Shares of NerdWallet, Inc. $NRDS

Quantinno Capital Management LP boosted its position in NerdWallet, Inc. (NASDAQ:NRDS) by 286.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,764 shares of the company’s stock after buying an additional 53,915 shares during the quarter. Quantinno Capital Management LP’s holdings in NerdWallet were worth $755,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Covestor Ltd bought a new stake in NerdWallet in the 4th quarter valued at approximately $34,000. New York State Teachers Retirement System acquired a new stake in shares of NerdWallet in the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC raised its holdings in shares of NerdWallet by 37.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after purchasing an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of NerdWallet in the third quarter worth $111,000. Finally, Prelude Capital Management LLC bought a new stake in shares of NerdWallet in the third quarter worth $119,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Trading Up 3.6%

Shares of NRDS opened at $9.95 on Wednesday. The company has a market cap of $636.00 million, a price-to-earnings ratio of 11.18 and a beta of 1.23. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24. The company’s fifty day simple moving average is $9.16 and its 200 day simple moving average is $9.68.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, research analysts forecast that NerdWallet, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of analyst reports. Oppenheimer decreased their target price on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Citigroup reduced their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Truist Financial decreased their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. KeyCorp lowered their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Four 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.83.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total value of $4,216,663.44. Following the sale, the insider directly owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. This represents a 12.15% 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. Over the last quarter, insiders have sold 1,961,860 shares of company stock valued at $17,862,921. 52.75% of the stock is currently owned by corporate insiders.

NerdWallet Company 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.