Wealthfront (NASDAQ:WLTH) VP Sells $241,093.08 in Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 28,498 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total value of $241,093.08. Following the completion of the sale, the vice president owned 225,771 shares in the company, valued at $1,910,022.66. The trade was a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kal Iyer also recently made the following trade(s):

• On Monday, June 15th, Kal Iyer sold 45,772 shares of Wealthfront stock. The stock was sold at an average price of $8.92, for a total value of $408,286.24.

Wealthfront Trading Down 2.6%

WLTH stock traded down $0.22 during trading on Monday, hitting $8.22. 1,857,562 shares of the company traded hands, compared to its average volume of 1,593,316. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The stock’s 50-day moving average is $10.72.

Wealthfront (NASDAQ:WLTH) last released 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 during the quarter. Wealthfront’s revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Wells Fargo & Company upped their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods lowered their target price on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Finally, Weiss Ratings initiated coverage on Wealthfront in a research report on Wednesday, March 11th. They set a “sell (d)” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wealthfront presently has a consensus rating of “Hold” and a consensus target price of $12.75.

Institutional Investors Weigh In On Wealthfront

A number of institutional investors have recently added to or reduced their stakes in WLTH. Tiger Global Management LLC purchased a new stake in Wealthfront in the 4th quarter worth $205,982,000. Dag Ventures LLC purchased a new position in Wealthfront during the fourth quarter valued at $187,725,000. Index Venture Associates VI Ltd purchased a new position in Wealthfront during the fourth quarter valued at $128,567,000. Wellington Management Group LLP acquired a new stake in shares of Wealthfront in the fourth quarter valued at about $54,182,000. Finally, North Reef Capital Management LP grew its position in shares of Wealthfront by 135.2% in the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after purchasing an additional 1,658,624 shares during the period.

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.