Wealthfront Advisers LLC Makes New $774,000 Investment in Wealthfront $WLTH

Wealthfront Advisers LLC acquired a new stake in Wealthfront (NASDAQ:WLTH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 86,632 shares of the company’s stock, valued at approximately $774,000. Wealthfront Advisers LLC owned 0.06% of Wealthfront as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WLTH. Royal Bank of Canada bought a new position in Wealthfront in the 1st quarter valued at about $27,000. Sandia Investment Management LP bought a new stake in shares of Wealthfront during the fourth quarter worth approximately $44,000. Strs Ohio acquired a new position in shares of Wealthfront in the first quarter valued at approximately $56,000. SummitTX Capital L.P. acquired a new position in shares of Wealthfront in the first quarter valued at approximately $131,000. Finally, Barclays PLC bought a new position in shares of Wealthfront during the fourth quarter worth approximately $136,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WLTH shares. JPMorgan Chase & Co. reduced their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company lowered their price objective on Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods dropped their target price on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a report on Monday, July 13th. The Goldman Sachs Group lowered their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Four 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.42.

Wealthfront Stock Performance

Wealthfront stock opened at $9.22 on Friday. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88. The stock has a market capitalization of $1.38 billion and a P/E ratio of -8.95. The stock has a fifty day moving average of $9.13 and a 200-day moving average of $9.51.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Wealthfront will post 0.42 earnings per share for the current year.

Insider Transactions at Wealthfront

In other news, CTO Julien Wetterwald sold 39,810 shares of Wealthfront stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $336,792.60. Following the sale, the chief technology officer directly owned 727,052 shares of the company’s stock, valued at approximately $6,150,859.92. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the vice president directly owned 225,771 shares of the company’s stock, valued at $1,910,022.66. This represents a 11.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 136,565 shares of company stock worth $1,193,520. Insiders own 27.36% of the company’s stock.

Wealthfront 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.