Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Christopher C. Swenson, the Chief Legal Officer of Nerdy Inc. (NYSE:NRDY), recently sold 58,220 shares of the company’s Class A Common Stock in an open market transaction. The education technology company, currently valued at $352 million, has seen its stock surge 73% over the past six months despite recent volatility. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with impressive gross profit margins of 69%. The shares were sold at a price of $1.80 each, totaling $104,796. This sale was conducted to cover taxes due to the vesting of 114,930 restricted stock units, as part of Nerdy’s sell-to-cover program. Following the transaction, Swenson holds 1,685,028 shares, which include 865,906 shares of Class A Common Stock and 819,122 restricted stock units. InvestingPro subscribers have access to 12 additional investment tips for NRDY, including detailed insights about the company’s financial health and growth prospects. Get the complete picture with InvestingPro’s comprehensive research report, available for over 1,400 US stocks.
In other recent news, Duolingo (NASDAQ:DUOL) Inc. has received an Overweight rating from JPMorgan, which has set a price target of $400 for the company. The firm anticipates a significant rise in daily active users, projecting a 52% increase in the fourth quarter, driven by marketing initiatives and new product features. Duolingo’s revenue growth is expected to be bolstered by the introduction of its Max subscription service, which is projected to reach 1.37 million subscribers by 2025. Additionally, JPMorgan forecasts a 26% year-over-year growth in bookings for 2025, highlighting the company’s potential for expansion.
Meanwhile, Nerdy Inc. has successfully regained compliance with the New York Stock Exchange’s minimum share price requirement. The company’s stock maintained a closing share price above the $1.00 minimum over a 30-day trading period, ensuring its continued listing on the NYSE. This development marks a positive turn for Nerdy Inc., as it alleviates concerns regarding its listing status. The company has not disclosed specific strategies that led to this improved valuation. Investors are advised to consider Nerdy’s SEC filings for a detailed understanding of its financial health and business strategies.
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