SAN FRANCISCO—Lauren StClair, Chief Financial Officer of NerdWallet, Inc. (NASDAQ:NRDS), recently sold shares of the company's Class A common stock, according to a recent SEC filing. On December 2, StClair disposed of 11,856 shares at a price of $14.04 per share, netting a total of $166,458. The transaction occurred as the stock trades near its 52-week range of $10.10 to $17.30, with analysts setting price targets between $14 and $20.
This transaction decreased StClair's direct ownership to 313,100 shares. Included in this total are 153,023 Restricted Stock Units (RSUs) payable solely in the company's Class A common stock, as well as 949 shares acquired under NerdWallet's 2021 Employee Stock Purchase Plan.
The shares were withheld by NerdWallet to satisfy tax obligations related to the vesting of RSUs, as noted in the filing.
In other recent news, NerdWallet, Inc. reported a year-over-year revenue increase of 25% to $191 million in its Q3 2024 Earnings Call, despite facing market challenges. The company highlighted significant growth in its insurance segment and small- and medium-sized business revenues, even as it experienced declines in credit card and loan segments. NerdWallet anticipates a revenue boost in the upcoming quarter from its acquisition of Next (LON:NXT) Door Lending and remains optimistic about long-term growth, supported by a focus on vertical integration and the launch of its new membership offering, NerdWallet+.
In response to analyst Jed Kelly from Oppenheimer, CFO Lauren StClair emphasized disciplined performance marketing targeting in-quarter profitability. CEO Tim Chen discussed the enhancement of user personalization in insurance and the benefits of a brokerage model in mortgages, improving rate shopping for consumers. Despite setbacks in credit card and loan revenues, NerdWallet's proactive measures, including workforce reductions and a new share repurchase authorization, aim to bolster financial stability.
These recent developments demonstrate NerdWallet's resilience in a fluctuating market. The company is leveraging growth in its insurance and SMB segments and strategically acquiring Next Door Lending to navigate market headwinds and maintain its trajectory of revenue growth.
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