Samuel Yount, Chief Business Officer of NerdWallet, Inc. (NASDAQ:NRDS), has sold a significant portion of its stake in the company, according to a recent filing with the SEC. The company, which is currently trading near $13.50, shows promising potential according to InvestingPro data, with analyst targets suggesting up to $20 per share. The transactions, executed pursuant to a prearranged 10b5-1 trading plan, involved the sale of 443,339 shares of Class A common stock. These sales were made on December 30, 2024 and January 2, 2025 at prices ranging from $13.45 to $13.49 per share. shares, totaling approximately USD 5.98 million. Although stocks showed high volatility, InvestingPro the analysis shows a “GOOD” overall financial health score, with liquid assets exceeding current liabilities.
Following the transactions, Yount retains ownership of 519,351 shares, which includes 506,424 restricted stock units payable in Class A common stock. The shares were sold indirectly and held by trusts and an LLC. With the company’s next earnings report due on February 12, 2025, investors can access comprehensive analysis and additional insights through a detailed Pro Research Report available at InvestingPro.
In other recent news, NerdWallet reported a 25% year-over-year increase in revenue to $191 million in its Q3 2024 earnings call, despite facing market challenges. The insurance segment and the revenues of small and medium-sized enterprises (SMBs) recorded significant growth, while the credit card and loan segments experienced a decline. However, NerdWallet remains optimistic about future growth, expecting an increase in revenue in the coming quarter thanks to the acquisition Following (LON:) Door loan.
The company’s third-quarter revenue rose to $191 million, a 25% year-over-year increase, with insurance revenue surging 916% and SME revenue up 12% to $28 million USD. Despite these gains, income from credit cards and loans decreased by 16% and 28%, respectively. Furthermore, NerdWallet reported a 7% decrease in monthly unique users, while its registered users exceeded 23 million.
NerdWallet expects fourth-quarter revenue to be between $164 million and $172 million, indicating growth of 26% over last year. The company’s long-term growth strategy includes a focus on vertical integration and improved consumer experiences. The acquisition of Next Door Lending is expected to contribute 1-2 percentage points to fourth quarter revenue growth. Despite some downward trends, including a decline in credit card and loan revenue and a decline in monthly unique users, NerdWallet maintains a positive outlook, aided by strategic acquisitions and a focus on user engagement.
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