Nerdy (NYSE:NRDY) CFO Jason Pello Sells 49,814 Shares of Stock

Nerdy Inc. (NYSE:NRDY) CFO Jason Pello sold 49,814 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $0.97, for a total transaction of $48,319.58. Following the completion of the transaction, the chief financial officer directly owned 2,646,235 shares in the company, valued at $2,566,847.95. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Nerdy Stock Performance

NRDY opened at $0.96 on Thursday. Nerdy Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $1.90. The firm has a 50-day moving average of $1.08 and a 200 day moving average of $1.16. The firm has a market cap of $179.27 million, a P/E ratio of -2.73 and a beta of 1.80.

Institutional Investors Weigh In On Nerdy

A number of institutional investors and hedge funds have recently modified their holdings of NRDY. Wells Fargo & Company MN lifted its stake in Nerdy by 80.5% in the 4th quarter. Wells Fargo & Company MN now owns 65,041 shares of the company’s stock worth $68,000 after purchasing an additional 29,007 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Nerdy by 170.7% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock valued at $300,000 after purchasing an additional 150,000 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Nerdy by 236.2% in the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after purchasing an additional 86,791 shares during the period. Jane Street Group LLC raised its position in shares of Nerdy by 27.0% in the second quarter. Jane Street Group LLC now owns 83,470 shares of the company’s stock worth $136,000 after buying an additional 17,768 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Nerdy during the second quarter valued at $221,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NRDY. Cantor Fitzgerald reduced their price objective on Nerdy from $1.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Wall Street Zen raised Nerdy from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $1.25.

Nerdy Company Profile

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.