Board of Trustees of The Leland Stanford Junior University Invests $1.93 Million in Wealthfront $WLTH

Board of Trustees of The Leland Stanford Junior University purchased a new position in Wealthfront (NASDAQ:WLTH) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 208,471 shares of the company’s stock, valued at approximately $1,928,000. Wealthfront comprises approximately 0.2% of Board of Trustees of The Leland Stanford Junior University’s holdings, making the stock its 10th biggest position.

Several other hedge funds have also bought and sold shares of WLTH. Tiger Global Management LLC bought a new stake in Wealthfront during the fourth quarter worth about $205,982,000. Dag Ventures LLC bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $128,567,000. Wellington Management Group LLP purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $54,182,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Wealthfront in the 4th quarter worth approximately $31,136,000.

Wealthfront Price Performance

NASDAQ WLTH opened at $9.26 on Monday. The company’s 50-day simple moving average is $10.00. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88. The stock has a market cap of $1.38 billion and a price-to-earnings ratio of -8.99.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data 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 for the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Wealthfront will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Wells Fargo & Company dropped their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Royal Bank Of Canada cut their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Insider Buying and Selling at Wealthfront

In other news, VP Kal Iyer sold 45,772 shares of the company’s 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 completion of the sale, the vice president directly owned 254,269 shares in the company, valued at $2,268,079.48. This represents a 15.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. Also, CTO Julien Wetterwald sold 39,810 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total value of $336,792.60. Following the completion of the transaction, the chief technology officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,565 shares of company stock valued at $1,193,520 over the last three months. Insiders own 27.36% of the company’s stock.

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.