NerdWallet, Inc. (NASDAQ:NRDS) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of NerdWallet, Inc. (NASDAQ:NRDS) by 32.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 353,139 shares of the company’s stock after buying an additional 86,029 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NerdWallet were worth $4,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NRDS. Vanguard Group Inc. lifted its position in shares of NerdWallet by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after acquiring an additional 432,262 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of NerdWallet in the second quarter worth $445,000. Bank of New York Mellon Corp grew its holdings in shares of NerdWallet by 27.6% during the second quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock valued at $1,794,000 after buying an additional 26,572 shares in the last quarter. Legato Capital Management LLC acquired a new position in NerdWallet during the second quarter valued at $555,000. Finally, Natixis Advisors LLC purchased a new stake in NerdWallet in the 2nd quarter worth about $250,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NRDS. Truist Financial dropped their target price on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Barclays upped their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. KeyCorp increased their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lowered their target price on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, NerdWallet currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Buying and Selling

In other NerdWallet 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, for a total transaction 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. This represents a 1.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of NerdWallet stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the transaction, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This trade represents a 8.52 % increase in their position. The disclosure for this purchase can be found here. 45.93% of the stock is owned by insiders.

NerdWallet Price Performance

Shares of NASDAQ:NRDS opened at $13.75 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -98.21 and a beta of 1.39. The business has a 50-day moving average of $13.12 and a two-hundred day moving average of $13.38. NerdWallet, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $17.30.

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

NerdWallet 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.