Wells Fargo & Company MN Acquires 4,225 Shares of NerdWallet, Inc. (NASDAQ:NRDS)

Wells Fargo & Company MN grew its holdings in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 34.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,394 shares of the company’s stock after purchasing an additional 4,225 shares during the period. Wells Fargo & Company MN’s holdings in NerdWallet were worth $218,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of NerdWallet by 153.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 766,670 shares of the company’s stock valued at $10,197,000 after buying an additional 463,758 shares during the period. Norges Bank bought a new position in shares of NerdWallet during the fourth quarter worth about $3,785,000. JPMorgan Chase & Co. lifted its stake in shares of NerdWallet by 556.8% in the fourth quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company’s stock worth $3,206,000 after acquiring an additional 204,326 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in NerdWallet by 892.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company’s stock valued at $2,875,000 after acquiring an additional 194,387 shares during the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $11.09 on Friday. NerdWallet, Inc. has a 52 week low of $7.55 and a 52 week high of $16.45. The firm has a 50-day moving average price of $8.93 and a two-hundred day moving average price of $11.97. The firm has a market cap of $822.08 million, a price-to-earnings ratio of 27.73 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. As a group, sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

NRDS has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley decreased their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Barclays upped their target price on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, KeyCorp lowered their target price on NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

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.