Verition Fund Management LLC Buys Shares of 40,590 NerdWallet, Inc. (NASDAQ:NRDS)

Verition Fund Management LLC bought a new position in NerdWallet, Inc. (NASDAQ:NRDS) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 40,590 shares of the company’s stock, valued at approximately $516,000. Verition Fund Management LLC owned 0.06% of NerdWallet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in NerdWallet by 5.8% during the third quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock worth $277,000 after buying an additional 1,190 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after acquiring an additional 1,561 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of NerdWallet by 2.0% during the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,070 shares during the last quarter. Quarry LP bought a new stake in NerdWallet during the second quarter valued at about $31,000. Finally, The Manufacturers Life Insurance Company grew its stake in NerdWallet by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock valued at $219,000 after purchasing an additional 2,172 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. KeyCorp increased their price target on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the purchase, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This trade represents a 8.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of NerdWallet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the transaction, the chief financial officer now directly owns 313,100 shares of the company’s stock, valued at $4,395,924. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 45.93% of the company’s stock.

NerdWallet Trading Down 4.5 %

NASDAQ:NRDS opened at $13.79 on Thursday. NerdWallet, Inc. has a twelve month low of $10.10 and a twelve month high of $17.30. The company has a market cap of $1.01 billion, a PE ratio of -98.50 and a beta of 1.32. The company’s 50 day moving average is $13.43 and its two-hundred day moving average is $13.38.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, analysts expect that NerdWallet, Inc. will post -0.11 EPS for the current fiscal 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.