JPMorgan Chase & Co. Decreases Position in NerdWallet, Inc. (NASDAQ:NRDS)

JPMorgan Chase & Co. lessened its holdings in NerdWallet, Inc. (NASDAQ:NRDS) by 54.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,694 shares of the company’s stock after selling 44,605 shares during the quarter. JPMorgan Chase & Co.’s holdings in NerdWallet were worth $466,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its position in shares of NerdWallet by 5.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after acquiring an additional 1,190 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of NerdWallet by 11.1% in the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after purchasing an additional 1,561 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of NerdWallet by 2.0% during the second 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 period. Quarry LP purchased a new stake in NerdWallet in the second quarter valued at approximately $31,000. Finally, The Manufacturers Life Insurance Company increased its holdings in NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after buying an additional 2,172 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Samuel Yount sold 440,336 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares in the company, valued at $3,429,657.13. This represents a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lauren Stclair sold 11,856 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $14.04, for a total transaction of $166,458.24. Following the transaction, the chief financial officer now owns 313,100 shares in the company, valued at $4,395,924. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 822,353 shares of company stock worth $11,051,439. Insiders own 45.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays upped their price target on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp lifted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, NerdWallet currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

NerdWallet Stock Performance

NRDS opened at $15.15 on Wednesday. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30. The company has a fifty day moving average of $13.78 and a two-hundred day moving average of $13.31. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -108.21 and a beta of 1.32.

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

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.