Wealthfront $WLTH Shares Newly Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of Wealthfront (NASDAQ:WLTH) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 332,012 shares of the company’s stock, valued at approximately $3,446,000. Jefferies Financial Group Inc. owned approximately 0.21% of Wealthfront at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Wealthfront in the 2nd quarter worth approximately $74,766,000. Renaissance Technologies LLC bought a new position in shares of Wealthfront during the first quarter valued at approximately $1,622,000. Bank of America Corp DE increased its holdings in Wealthfront by 1,461.0% during the first quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock valued at $6,874,000 after buying an additional 695,555 shares during the period. Southpoint Capital Advisors LP purchased a new position in Wealthfront during the first quarter valued at approximately $12,950,000. Finally, PEAK6 LLC bought a new position in Wealthfront in the second quarter worth approximately $2,012,000.

Insider Activity

In related news, insider Lauren Lin sold 16,117 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $172,935.41. Following the transaction, the insider directly owned 181,385 shares in the company, valued at $1,946,261.05. The trade was a 8.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kenneth Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the director directly owned 49,655 shares in the company, valued at $496,550. This represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 270,688 shares of company stock worth $2,796,816 over the last quarter. Company insiders own 27.36% of the company’s stock.

Wealthfront Stock Down 6.4%

NASDAQ:WLTH opened at $10.20 on Friday. The stock has a market capitalization of $1.59 billion and a price-to-earnings ratio of -10.97. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88. The firm has a 50 day moving average of $10.45 and a 200 day moving average of $9.73.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%. The business had revenue of $91.87 million for the quarter. The firm’s revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Wealthfront will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $11.00 target price on shares of Wealthfront in a report on Wednesday, October 7th. Royal Bank Of Canada cut their price target on Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Wells Fargo & Company boosted their price target on Wealthfront from $11.50 to $12.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Wealthfront in a research report on Wednesday, October 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research note on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.36.

About Wealthfront

Wealthfront is a U.S.-based digital financial services company that provides automated investing, cash management and financial planning tools. Its platform is designed to help individuals manage savings and investments through online accounts and software. Wealthfront’s offerings include diversified investment portfolios managed with automated strategies, cash accounts offered through partner banks, and tools for setting financial goals and tracking progress. The company has also offered services such as individual stock investing and portfolio lines of credit.