Insider Selling: Wealthfront (NASDAQ:WLTH) Insider Sells $40,898.00 in Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 4,840 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the completion of the sale, the insider directly owned 158,092 shares of the company’s stock, valued at $1,335,877.40. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Stock Down 1.7%

NASDAQ:WLTH opened at $8.07 on Thursday. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88. The business has a 50-day simple moving average of $10.60.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $90.48 million during the quarter. Wealthfront’s revenue was up 7.1% on a year-over-year basis. Analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of Wealthfront

Several hedge funds have recently modified their holdings of the stock. Jennison Associates LLC purchased a new stake in Wealthfront in the 4th quarter valued at $4,396,000. Teacher Retirement System of Texas acquired a new stake in shares of Wealthfront in the 4th quarter valued at approximately $2,310,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront during the 4th quarter worth $128,567,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront in the fourth quarter valued at about $187,725,000. Finally, Seven Grand Managers LLC purchased a new position in Wealthfront in the fourth quarter valued at about $2,038,000.

Key Stories Impacting Wealthfront

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Wealthfront launched a new Custodial Account and is offering $100 in seed funding for qualifying new accounts, expanding its family wealth management platform and potentially adding a new source of client growth. Wealthfront Launches Tax-Efficient Custodial Account with $100 Seed Funding, Expands Family Wealth Management Offering
• Positive Sentiment: The company also highlighted a new way to help parents invest for children’s futures with automated investing and tax-efficient features, which supports Wealthfront’s strategy to broaden its product set beyond core investing accounts. Wealthfront Launches Investing Accounts for Kids Who Want to Build Wealth Early
• Neutral Sentiment: Wealthfront stockholders elected directors and ratified the company’s auditor at the annual meeting, which is a routine corporate update and is not likely to materially change the investment outlook. Wealthfront Stockholders Elect Directors and Ratify Auditor
• Negative Sentiment: Multiple insider sales have weighed on sentiment, including recent filings from senior executives, which can signal that management sees limited near-term upside. Wealthfront Insider Trading Activity | NASDAQ:WLTH | Benzinga
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Wealthfront investors, adding legal overhang and uncertainty that may pressure the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wealthfront Corporation – WLTH

Analysts Set New Price Targets

WLTH has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Friday, June 5th. Wells Fargo & Company boosted their price objective on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Royal Bank Of Canada reduced their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Citizens Jmp lowered their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. Finally, The Goldman Sachs Group dropped their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wealthfront currently has an average rating of “Hold” and an average price target of $12.75.

Wealthfront Company 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.