Samuel Yount, the Chief Business Officer at NerdWallet, Inc. (NASDAQ:NRDS), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Yount disposed of 268,989 shares of Class A Common Stock over two days, December 17 and 18, 2024. The shares were sold at prices ranging from $13.14 to $13.41, amounting to a total transaction value of approximately $3.57 million. The stock, currently trading at $12.73, has shown high price volatility according to InvestingPro analysis.
These sales were executed under a Rule 10b5-1 trading plan, which Yount had adopted on September 11, 2024. Following the transactions, Yount retains ownership of 519,351 shares, including 506,424 Restricted Stock Units, reflecting a continued significant stake in the $935.61M market cap company. While insiders are selling, InvestingPro data shows management has been aggressively buying back shares, with analysts setting price targets ranging from $14 to $20. Get the full picture with InvestingPro's comprehensive research report, available for over 1,400 US stocks.
In other recent news, financial guidance platform NerdWallet reported a 25% year-over-year increase in revenue, reaching $191 million in its recent Q3 2024 earnings call. Despite market challenges, significant growth was noted in the insurance segment, with a 916% increase, and small- and medium-sized business (SMB) revenues, which grew by 12% to $28 million. However, the company also faced declines in credit card and loan segments by 16% and 28%, respectively.
NerdWallet, under the leadership of CEO Tim Chen and CFO Lauren StClair, anticipates a revenue boost in the upcoming quarter from its acquisition of Next (LON:NXT) Door Lending. The company also revealed plans to launch a new membership offering, NerdWallet+, as part of its long-term growth strategy. Furthermore, NerdWallet expects Q4 revenue to be between $164 million and $172 million, indicating a 26% year-over-year growth.
Despite a 7% decrease in Monthly Unique Users, registered users surpassed 23 million. The company also reported a Non-GAAP operating income of $23 million and announced a new $25 million share repurchase authorization. NerdWallet also aims to achieve $30 million in annualized savings from recent workforce reductions. These are some of the recent developments in the company's financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.