Paloma Partners Management Co Acquires New Position in NerdWallet, Inc. (NASDAQ:NRDS)

Paloma Partners Management Co bought a new position in shares of NerdWallet, Inc. (NASDAQ:NRDS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,914 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of NerdWallet in the 2nd quarter valued at $31,000. nVerses Capital LLC purchased a new position in shares of NerdWallet during the third quarter worth $62,000. US Bancorp DE acquired a new stake in shares of NerdWallet in the third quarter valued at $86,000. Intech Investment Management LLC purchased a new stake in shares of NerdWallet in the 3rd quarter valued at $135,000. Finally, TNF LLC purchased a new stake in shares of NerdWallet in the 3rd quarter valued at $178,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NerdWallet Trading Up 0.1 %

Shares of NRDS opened at $13.53 on Friday. The stock’s 50 day moving average is $13.35 and its two-hundred day moving average is $13.38. NerdWallet, Inc. has a twelve month low of $10.10 and a twelve month high of $17.30. The firm has a market capitalization of $993.63 million, a PE ratio of -96.64 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. On average, sell-side analysts predict that NerdWallet, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

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

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.