PDT Partners LLC Lowers Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

PDT Partners LLC reduced its position in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 56.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 28,570 shares of the company’s stock after selling 37,073 shares during the period. PDT Partners LLC’s holdings in NerdWallet were worth $363,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Verition Fund Management LLC purchased a new stake in shares of NerdWallet during the 3rd quarter worth about $516,000. Charles Schwab Investment Management Inc. boosted its stake in shares of NerdWallet by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 329,444 shares of the company’s stock worth $4,187,000 after acquiring an additional 5,209 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of NerdWallet during the 3rd quarter worth about $135,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NerdWallet by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after acquiring an additional 86,029 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of NerdWallet by 138.4% during the 3rd quarter. GSA Capital Partners LLP now owns 49,347 shares of the company’s stock worth $627,000 after acquiring an additional 28,644 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NRDS. Barclays increased their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price target on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, KeyCorp raised their price target on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. 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.com, NerdWallet has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Trading Up 0.4 %

NRDS stock opened at $14.10 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -100.71 and a beta of 1.31. NerdWallet, Inc. has a 12 month low of $10.10 and a 12 month high of $17.30. The firm has a 50-day moving average of $13.29 and a two-hundred day moving average of $13.38.

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

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares of the company’s stock, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Topline Capital Management, Ll purchased 49,722 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were purchased at an average price of $12.05 per share, with a total value of $599,150.10. Following the acquisition, the insider now directly owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. The trade was a 1.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.93% of the stock is owned by insiders.

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.