NerdWallet (NASDAQ:NRDS) Major Shareholder Topline Capital Partners, Lp Sells 454,872 Shares of Stock

by · The Markets Daily

NerdWallet, Inc. (NASDAQ:NRDS – Get Free Report) major shareholder Topline Capital Partners, Lp sold 454,872 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44. Following the sale, the insider owned 3,289,285 shares of the company’s stock, valued at approximately $30,491,671.95. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

  • On Monday, June 29th, Topline Capital Partners, Lp sold 587,835 shares of NerdWallet stock. The shares were sold at an average price of $9.22, for a total value of $5,419,838.70.
  • On Friday, June 26th, Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS traded down $0.14 during trading on Tuesday, reaching $9.25. The stock had a trading volume of 777,375 shares, compared to its average volume of 938,484. NerdWallet, Inc. has a 1-year low of $7.33 and a 1-year high of $16.24. The stock has a market cap of $608.64 million, a PE ratio of 9.95 and a beta of 1.25. The business has a fifty day moving average price of $8.99 and a 200-day moving average price of $10.75.

NerdWallet (NASDAQ:NRDS – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $227.63 million. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NRDS shares. Weiss Ratings cut shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Truist Financial dropped their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Citigroup dropped their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NerdWallet currently has an average rating of “Hold” and a consensus price target of $12.83.

Read Our Latest Research Report on NRDS

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in NerdWallet during the third quarter worth about $2,812,000. UBS Group AG boosted its holdings in NerdWallet by 52.2% in the 4th quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after purchasing an additional 167,954 shares during the last quarter. OP Asset Management Ltd acquired a new position in NerdWallet in the 1st quarter valued at about $6,957,000. JPMorgan Chase & Co. grew its stake in shares of NerdWallet by 400.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock valued at $1,055,000 after buying an additional 78,447 shares during the period. Finally, Covestor Ltd purchased a new stake in shares of NerdWallet in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

(Get Free Report)

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.

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