Wealthfront (NASDAQ:WLTH) Receives Consensus Rating of “Hold” from Analysts

Shares of Wealthfront (NASDAQ:WLTH) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.4167.

Several research firms recently commented on WLTH. Royal Bank Of Canada cut their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. lowered their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company decreased their price target on Wealthfront from $12.00 to $11.50 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th.

Insiders Place Their Bets

In other news, CTO Julien Wetterwald sold 39,810 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total transaction of $336,792.60. Following the transaction, the chief technology officer owned 727,052 shares in the company, valued at approximately $6,150,859.92. This represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 45,772 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24. Following the transaction, 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 position. 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 sold a total of 136,565 shares of company stock valued at $1,193,520 in the last ninety days. 27.36% of the stock is owned by corporate insiders.

Institutional Trading of Wealthfront

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in Wealthfront in the 1st quarter worth about $1,622,000. BlackRock Inc. bought a new stake in shares of Wealthfront in the second quarter valued at approximately $74,766,000. Bank of America Corp DE lifted its stake in shares of Wealthfront by 1,461.0% during the 1st quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock valued at $6,874,000 after buying an additional 695,555 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in Wealthfront in the 1st quarter worth approximately $12,950,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Wealthfront during the 1st quarter valued at $1,928,000.

Wealthfront Stock Up 1.7%

Shares of WLTH stock opened at $9.01 on Thursday. The company’s fifty day simple moving average is $9.26 and its 200-day simple moving average is $9.57. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The firm has a market cap of $1.35 billion and a PE ratio of -8.75.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $90.48 million during the quarter. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Wealthfront will post 0.4 earnings per share for the current fiscal year.

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.