Wealthfront (NASDAQ:WLTH) Receives Average Recommendation of “Hold” from Brokerages

Wealthfront (NASDAQ:WLTH) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.75.

Several research firms have issued reports on WLTH. Keefe, Bruyette & Woods lowered their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Wall Street Zen cut shares of Wealthfront from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Finally, Weiss Ratings began coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They issued a “sell (d)” rating for the company.

Insider Transactions at Wealthfront

In other news, VP Kal Iyer sold 28,498 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 of the company’s stock, valued at approximately $1,910,022.66. This represents a 11.21% decrease in their position. 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, CTO Julien Wetterwald sold 39,810 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $336,792.60. Following the completion of the sale, the chief technology officer directly owned 727,052 shares of the company’s stock, valued at $6,150,859.92. The trade was a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 119,558 shares of company stock valued at $1,032,888. Company insiders own 27.36% of the company’s stock.

Institutional Investors Weigh In On Wealthfront

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada purchased a new stake in Wealthfront during the first quarter valued at approximately $27,000. Sandia Investment Management LP purchased a new stake in Wealthfront during the fourth quarter valued at approximately $44,000. Strs Ohio purchased a new stake in Wealthfront during the first quarter valued at approximately $56,000. SummitTX Capital L.P. purchased a new stake in Wealthfront during the first quarter valued at approximately $131,000. Finally, Barclays PLC acquired a new position in Wealthfront during the 4th quarter valued at approximately $136,000.

Wealthfront Stock Performance

Shares of NASDAQ:WLTH opened at $8.79 on Friday. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The firm’s 50-day moving average price is $10.51.

Wealthfront (NASDAQ:WLTH) last released 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 business had revenue of $90.48 million for the quarter. Wealthfront’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Wealthfront will post 0.42 EPS for the current 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.