Wealthfront Advisers LLC Takes $774,000 Position in Wealthfront $WLTH

Wealthfront Advisers LLC bought a new stake in shares of Wealthfront (NASDAQ:WLTH) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 86,632 shares of the company’s stock, valued at approximately $774,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new stake in shares of Wealthfront during the 1st quarter worth approximately $27,000. Sandia Investment Management LP acquired a new position in shares of Wealthfront during the 4th quarter valued at $44,000. Strs Ohio bought a new position in Wealthfront during the first quarter worth $56,000. SummitTX Capital L.P. bought a new position in Wealthfront during the first quarter worth $131,000. Finally, Barclays PLC acquired a new stake in Wealthfront in the fourth quarter worth $136,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada dropped 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. The Goldman Sachs Group reduced their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Wells Fargo & Company lowered their target price on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods dropped their price target 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. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Wealthfront has an average rating of “Hold” and an average target price of $12.42.

Wealthfront Stock Performance

WLTH opened at $9.22 on Friday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The firm has a 50-day moving average of $9.13 and a 200 day moving average of $9.51. The firm has a market cap of $1.38 billion and a P/E ratio of -8.95.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million for the quarter. Wealthfront’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Wealthfront

In other Wealthfront news, insider Lauren Lin sold 4,840 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total value of $40,898.00. Following the sale, the insider directly owned 158,092 shares in the company, valued at $1,335,877.40. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock in a transaction on Monday, June 15th. The stock was sold at an average price of $8.92, for a total value of $408,286.24. Following the transaction, the vice president owned 254,269 shares of the company’s stock, valued at $2,268,079.48. The trade was 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 have sold a total of 136,565 shares of company stock worth $1,193,520 in the last ninety days. Company insiders own 27.36% of the company’s stock.

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.