Wealthfront $WLTH Shares Acquired by North Reef Capital Management LP

North Reef Capital Management LP grew its holdings in shares of Wealthfront (NASDAQ:WLTH) by 135.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,885,257 shares of the company’s stock after purchasing an additional 1,658,624 shares during the quarter. Wealthfront comprises approximately 0.9% of North Reef Capital Management LP’s portfolio, making the stock its 24th biggest position. North Reef Capital Management LP’s holdings in Wealthfront were worth $26,689,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tiger Global Management LLC purchased a new position in Wealthfront during the 4th quarter worth $205,982,000. Dag Ventures LLC purchased a new stake in Wealthfront in the fourth quarter valued at about $187,725,000. Index Venture Associates VI Ltd purchased a new stake in Wealthfront in the fourth quarter valued at about $128,567,000. Wellington Management Group LLP acquired a new stake in Wealthfront in the fourth quarter worth about $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Wealthfront in the fourth quarter worth about $31,136,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WLTH shares. Royal Bank Of Canada cut their price objective on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Keefe, Bruyette & Woods dropped their target price on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research report on Monday, July 13th. The Goldman Sachs Group cut their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Wealthfront currently has an average rating of “Hold” and an average price target of $12.50.

Insider Buying and Selling at Wealthfront

In other Wealthfront news, Director Jaleh Bisharat sold 8,504 shares of Wealthfront stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $9.39, for a total transaction of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares in the company, valued at approximately $79,843.17. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 45,772 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24. Following the completion of the sale, the vice president directly owned 254,269 shares in the company, valued at $2,268,079.48. This trade represents a 15.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 136,565 shares of company stock worth $1,193,520 in the last 90 days. Corporate insiders own 27.36% of the company’s stock.

Wealthfront Stock Down 1.1%

Shares of WLTH stock opened at $8.88 on Friday. The company has a 50-day moving average price of $9.78. The firm has a market capitalization of $1.33 billion and a price-to-earnings ratio of -8.62. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Wealthfront will post 0.42 earnings per share for the current year.

Wealthfront Profile

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.