Monashee Investment Management LLC Makes New $4.08 Million Investment in Wealthfront $WLTH

Monashee Investment Management LLC bought a new position in shares of Wealthfront (NASDAQ:WLTH) in the fourth quarter, HoldingsChannel.com reports. The firm bought 300,000 shares of the company’s stock, valued at approximately $4,077,000. Wealthfront comprises about 2.3% of Monashee Investment Management LLC’s portfolio, making the stock its 17th largest position.

A number of other large investors have also made changes to their positions in WLTH. Realta Investment Advisors acquired a new position in shares of Wealthfront during the fourth quarter valued at about $194,000. Teacher Retirement System of Texas acquired a new position in shares of Wealthfront during the fourth quarter valued at about $2,310,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Wealthfront during the fourth quarter valued at about $453,000. UBS Group AG acquired a new position in shares of Wealthfront during the fourth quarter valued at about $2,243,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Wealthfront during the fourth quarter valued at about $326,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WLTH shares. Wells Fargo & Company upped their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods cut 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. Royal Bank Of Canada cut their price objective on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group cut 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. Finally, Citizens Jmp cut their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, March 16th. Four research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.75.

Wealthfront Trading Down 1.5%

NASDAQ WLTH opened at $8.82 on Friday. The company has a 50-day simple moving average of $10.85. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $90.48 million for the quarter. Wealthfront’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Wealthfront will post 0.42 earnings per share for the current fiscal 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.