NerdWallet (NASDAQ:NRDS) Stock Price Up 5.4% – Still a Buy?

NerdWallet, Inc. (NASDAQ:NRDS)’s share price rose 5.4% on Wednesday . The company traded as high as $14.95 and last traded at $14.7370. Approximately 323,325 shares changed hands during trading, a decline of 43% from the average daily volume of 566,159 shares. The stock had previously closed at $13.98.

Analyst Ratings Changes

NRDS has been the subject of several analyst reports. Truist Financial raised their price target on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, November 10th. KeyCorp lifted their price objective on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Barclays upped their target price on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.40.

NerdWallet Price Performance

The stock has a market capitalization of $1.09 billion, a PE ratio of 15.55 and a beta of 1.42. The firm’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $11.56.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. NerdWallet had a net margin of 9.22% and a return on equity of 9.27%. The company had revenue of $215.10 million during the quarter, compared to analysts’ expectations of $193.31 million. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

NerdWallet announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 16th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 15,945 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total value of $255,757.80. Following the sale, the insider owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nicholas Tatum sold 4,272 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $10.76, for a total transaction of $45,966.72. Following the transaction, the chief accounting officer directly owned 68,020 shares of the company’s stock, valued at approximately $731,895.20. This trade represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,503 shares of company stock worth $715,244 in the last 90 days. Company insiders own 45.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of NerdWallet by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,899,417 shares of the company’s stock valued at $35,290,000 after purchasing an additional 69,499 shares in the last quarter. Deutsche Bank AG grew its stake in shares of NerdWallet by 58.2% in the 1st quarter. Deutsche Bank AG now owns 210,385 shares of the company’s stock worth $1,904,000 after buying an additional 77,432 shares during the last quarter. Invesco Ltd. increased its position in NerdWallet by 44.0% during the 1st quarter. Invesco Ltd. now owns 46,803 shares of the company’s stock valued at $424,000 after buying an additional 14,291 shares in the last quarter. Nuveen LLC purchased a new position in NerdWallet during the first quarter valued at $3,661,000. Finally, Fox Run Management L.L.C. bought a new stake in NerdWallet in the first quarter worth $154,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.