Wealthfront (NASDAQ:WLTH) Price Target Lowered to $12.50 at Wells Fargo & Company

Wealthfront (NASDAQ:WLTH) had its price target reduced by Wells Fargo & Company from $15.50 to $12.50 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

WLTH has been the topic of several other research reports. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Zacks Research raised shares of Wealthfront to a “hold” rating in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group set a $12.00 price target on shares of Wealthfront in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Wealthfront Stock Up 0.1%

Shares of NASDAQ WLTH opened at $8.79 on Thursday. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Monday, January 12th. The company reported $0.21 EPS for the quarter. The firm had revenue of $93.22 million for the quarter.

Hedge Funds Weigh In On Wealthfront

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tiger Global Management LLC acquired a new position in Wealthfront in the 4th quarter valued at about $205,982,000. Dag Ventures LLC purchased a new position in shares of Wealthfront in the fourth quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront in the fourth quarter valued at approximately $128,567,000. Wellington Management Group LLP purchased a new stake in Wealthfront during the 4th quarter worth approximately $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Wealthfront during the 4th quarter worth approximately $31,136,000.

About Wealthfront

Wealthfront (NASDAQ:WLTH) is a technology-driven wealth management firm that provides automated investment services to individual investors. Operating as a robo-advisor, the company uses algorithms and software to construct and manage diversified portfolios largely composed of low-cost exchange-traded funds (ETFs). Its platform is geared toward long-term, goal-based investing with an emphasis on passive strategies, automated rebalancing and straightforward user experience delivered through web and mobile applications.

The company’s product suite includes automated portfolio management, tax-loss harvesting and goal-planning tools that help clients set and track financial objectives.