NerdWallet chief business officer Samuel Yount sells $2.26m in stock

NerdWallet Inc.'s (NASDAQ:NRDS) Chief Business Officer, Samuel Yount, recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Yount sold a total of 165,167 shares of Class A Common Stock across several transactions on December 11 and December 12. The company, currently valued at approximately $1.1 billion, has shown high price volatility according to InvestingPro data.

The shares were sold at a weighted average price, with transactions ranging from $13.51 to $14.58 on December 11 and from $13.52 to $13.96 on December 12. The total value of these sales amounts to approximately $2.26 million. Based on InvestingPro's Fair Value analysis, NerdWallet appears slightly undervalued at current trading levels.

Following these transactions, Yount holds 1,095,178 shares indirectly through trusts and 581,419 shares indirectly through an LLC. Additionally, he directly owns 519,351 shares, which include 506,424 restricted stock units payable solely in Class A Common Stock.

These transactions were executed as part of a Rule 10b5-1 trading plan, which Yount adopted on September 11, 2024.

In other recent news, NerdWallet reported a 25% year-over-year revenue increase to $191 million in its Q3 2024 Earnings Call, despite facing market challenges. The company saw significant growth in its insurance segment, with revenue skyrocketing by 916%, and a 12% rise in small- and medium-sized business revenues, reaching $28 million. However, declines were observed in the credit card and loan segments, dropping by 16% and 28% respectively. The acquisition of Next (LON:NXT) Door Lending is expected to boost NerdWallet's Q4 revenue by 1-2 percentage points, with projections between $164 million and $172 million, indicating a 26% year-over-year growth. In response to these developments, the company has implemented strategic measures such as recent workforce reductions expected to achieve $30 million in annualized savings and a new $25 million share repurchase authorization. Despite a 7% decrease in Monthly Unique Users, NerdWallet continues to focus on user engagement and market adaptability to navigate the challenges and maintain its trajectory of revenue growth.

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