Granahan Investment Management LLC Makes New Investment in Wealthfront $WLTH

Granahan Investment Management LLC bought a new stake in shares of Wealthfront (NASDAQ:WLTH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,386,092 shares of the company’s stock, valued at approximately $18,837,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WLTH. Realta Investment Advisors bought a new stake in shares of Wealthfront during the 4th quarter valued at $194,000. Teacher Retirement System of Texas bought a new stake in shares of Wealthfront during the 4th quarter valued at $2,310,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Wealthfront during the 4th quarter valued at $453,000. UBS Group AG bought a new stake in shares of Wealthfront during the 4th quarter valued at $2,243,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Wealthfront during the 4th quarter valued at $326,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on WLTH. Keefe, Bruyette & Woods dropped their target price 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 lifted their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Citizens Jmp reduced their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. Weiss Ratings initiated coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They set a “sell (d)” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.75.

Wealthfront Price Performance

Shares of WLTH stock opened at $8.44 on Wednesday. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The company has a fifty day moving average price of $10.80.

Wealthfront (NASDAQ:WLTH) last announced 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 revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Wealthfront will post 0.42 EPS for the current fiscal year.

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.