Virtu Financial LLC Takes Position in NerdWallet, Inc. (NASDAQ:NRDS)

Posted by Defense World Staff on Jul 24th, 2023

Virtu Financial LLC purchased a new stake in shares of NerdWallet, Inc. (NASDAQ:NRDS – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,684 shares of the company’s stock, valued at approximately $399,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of NerdWallet by 43.2% during the third quarter. Vanguard Group Inc. now owns 3,064,047 shares of the company’s stock valued at $27,178,000 after buying an additional 924,147 shares during the period. Price T Rowe Associates Inc. MD boosted its position in NerdWallet by 2.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,316,221 shares of the company’s stock valued at $18,368,000 after purchasing an additional 49,443 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in NerdWallet by 9.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,965,399 shares of the company’s stock valued at $18,868,000 after purchasing an additional 175,422 shares in the last quarter. BlackRock Inc. boosted its position in NerdWallet by 26.6% during the third quarter. BlackRock Inc. now owns 1,620,056 shares of the company’s stock valued at $14,370,000 after purchasing an additional 340,715 shares in the last quarter. Finally, FMR LLC boosted its position in NerdWallet by 16.3% during the second quarter. FMR LLC now owns 1,599,489 shares of the company’s stock valued at $12,684,000 after purchasing an additional 224,056 shares in the last quarter. Hedge funds and other institutional investors own 39.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NRDS shares. TheStreet downgraded NerdWallet from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Barclays lowered their price target on NerdWallet from $21.00 to $18.00 in a report on Wednesday, May 3rd. Citigroup downgraded NerdWallet from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $14.00 in a report on Wednesday, May 3rd. Morgan Stanley lowered their price target on NerdWallet from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Finally, Truist Financial lowered their price target on NerdWallet from $27.00 to $20.00 in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Buying and Selling

In related news, insider Kevin Yuann sold 2,570 shares of NerdWallet stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $9.97, for a total transaction of $25,622.90. Following the completion of the transaction, the insider now directly owns 234,527 shares in the company, valued at $2,338,234.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Tim Chao-Ming Chen purchased 30,838 shares of NerdWallet stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average cost of $8.38 per share, for a total transaction of $258,422.44. Following the completion of the transaction, the chief executive officer now owns 685,477 shares in the company, valued at $5,744,297.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin Yuann sold 2,570 shares of NerdWallet stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $9.97, for a total value of $25,622.90. Following the transaction, the insider now owns 234,527 shares of the company’s stock, valued at $2,338,234.19. The disclosure for this sale can be found here. Corporate insiders own 49.56% of the company’s stock.

NerdWallet Stock Down 0.9 %

NerdWallet stock opened at $10.04 on Monday. NerdWallet, Inc. has a 52 week low of $8.20 and a 52 week high of $21.74. The company has a market capitalization of $770.27 million, a price-to-earnings ratio of 1,004.00 and a beta of 1.40. The stock has a 50-day moving average price of $9.92 and a 200 day moving average price of $12.84.

NerdWallet (NASDAQ:NRDS – Get Free Report) last released its earnings results on Tuesday, May 2nd. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. NerdWallet had a negative return on equity of 1.65% and a net margin of 0.35%. The firm had revenue of $169.60 million during the quarter, compared to the consensus estimate of $165.95 million. Research analysts anticipate that NerdWallet, Inc. will post 0.06 EPS for the current fiscal year.

NerdWallet Company Profile

(Free Report)

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. The company's platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.