Wealthfront (NASDAQ:WLTH) Receives $12.42 Average Price Target from Analysts

Shares of Wealthfront (NASDAQ:WLTH) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.4167.

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Wells Fargo & Company cut their price objective on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Keefe, Bruyette & Woods lowered 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. JPMorgan Chase & Co. dropped their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Finally, Royal Bank Of Canada cut their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th.

Wealthfront Price Performance

WLTH stock opened at $9.46 on Thursday. The business has a 50-day moving average price of $9.33 and a 200 day moving average price of $9.61. The company has a market capitalization of $1.41 billion and a P/E ratio of -9.18. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $91.87 million for the quarter. The company’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Wealthfront will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jaleh Bisharat sold 8,504 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $9.39, for a total value of $79,852.56. Following the sale, the director directly owned 8,503 shares in the company, valued at approximately $79,843.17. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 4,840 shares of Wealthfront stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the completion of the transaction, the insider directly owned 158,092 shares in the company, valued at approximately $1,335,877.40. The trade was a 2.97% 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. Insiders have sold 136,565 shares of company stock worth $1,193,520 over the last ninety days. 27.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wealthfront

A number of hedge funds and other institutional investors have recently bought and sold shares of WLTH. Tiger Global Management LLC purchased a new stake in shares of Wealthfront during the 4th quarter valued at $205,982,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront in the 4th quarter worth $187,725,000. Index Venture Associates VI Ltd purchased a new position in Wealthfront during the 4th quarter worth $128,567,000. BlackRock Inc. acquired a new position in Wealthfront during the 2nd quarter valued at about $74,766,000. Finally, Wellington Management Group LLP acquired a new position in Wealthfront during the 4th quarter valued at about $54,182,000.

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.