Arizona State Retirement System Takes $151,000 Position in NerdWallet, Inc. (NASDAQ:NRDS)

Arizona State Retirement System acquired a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,254 shares of the company’s stock, valued at approximately $151,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NerdWallet by 112.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,643 shares of the company’s stock worth $68,000 after buying an additional 4,053 shares during the period. Prudent Man Advisors LLC purchased a new position in NerdWallet during the 3rd quarter valued at about $111,000. SG Americas Securities LLC acquired a new position in NerdWallet in the 4th quarter valued at about $133,000. Raymond James Financial Services Advisors Inc. acquired a new position in NerdWallet in the 4th quarter valued at about $205,000. Finally, Newbridge Financial Services Group Inc. increased its stake in NerdWallet by 21.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 26,514 shares of the company’s stock worth $236,000 after purchasing an additional 4,649 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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. Barclays upped their price target on NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Truist Financial reduced their price objective on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, KeyCorp boosted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling

In other NerdWallet news, VP Samuel Yount sold 6,309 shares of NerdWallet stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $16.16, for a total value of $101,953.44. Following the transaction, the vice president now directly owns 2,350,242 shares in the company, valued at $37,979,910.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 45.93% of the stock is owned by company insiders.

NerdWallet Stock Up 0.3 %

Shares of NASDAQ NRDS opened at $13.35 on Tuesday. The stock has a market cap of $1.03 billion, a PE ratio of -83.43 and a beta of 1.39. NerdWallet, Inc. has a 52-week low of $6.38 and a 52-week high of $17.30. The business has a 50-day moving average price of $15.30 and a 200 day moving average price of $13.42.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.14). The firm had revenue of $133.70 million during the quarter, compared to analyst estimates of $138.43 million. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. NerdWallet’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. Sell-side analysts anticipate that NerdWallet, Inc. will post 0.22 earnings per share for the current year.

NerdWallet Company 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.