NerdWallet, Inc. (NASDAQ:NRDS) Short Interest Down 19.9% in April

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,570,000 shares, a decline of 19.9% from the March 31st total of 1,960,000 shares. Currently, 4.3% of the company’s shares are short sold. Based on an average trading volume of 342,200 shares, the short-interest ratio is currently 4.6 days.

Insider Activity

In related news, VP Samuel Yount sold 6,309 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the completion of the transaction, the vice president now owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NerdWallet by 112.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,643 shares of the company’s stock valued at $68,000 after purchasing an additional 4,053 shares during the last quarter. Prudent Man Advisors LLC purchased a new stake in NerdWallet in the third quarter valued at approximately $111,000. FMR LLC boosted its holdings in shares of NerdWallet by 88.7% in the third quarter. FMR LLC now owns 3,486,387 shares of the company’s stock valued at $30,994,000 after acquiring an additional 1,638,515 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of NerdWallet by 23.5% during the third quarter. Brandywine Global Investment Management LLC now owns 1,228,046 shares of the company’s stock worth $10,917,000 after acquiring an additional 233,975 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of NerdWallet by 70.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,159 shares of the company’s stock valued at $1,415,000 after acquiring an additional 65,931 shares during the period. 38.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NRDS shares. KeyCorp lifted their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Barclays increased their price objective on NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial cut their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, Citigroup upped their target price on shares of NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, NerdWallet presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

NerdWallet Price Performance

Shares of NRDS traded down $0.24 during mid-day trading on Monday, reaching $12.65. The company’s stock had a trading volume of 642,346 shares, compared to its average volume of 346,713. NerdWallet has a 12-month low of $6.38 and a 12-month high of $17.30. The stock has a market cap of $974.18 million, a PE ratio of -74.41 and a beta of 1.39. The company’s 50 day moving average is $14.93 and its 200 day moving average is $13.61.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter. NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.36%. The company had revenue of $161.90 million for the quarter, compared to analysts’ expectations of $156.95 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that NerdWallet will post 0.22 EPS for the current fiscal year.

About NerdWallet

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.