Wealthfront (NASDAQ:WLTH) Insider Lauren Lin Sells 16,117 Shares of Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 16,117 shares of the business’s stock in a transaction that occurred 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 owned 181,385 shares of the company’s stock, valued at $1,946,261.05. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lauren Lin also recently made the following trade(s):

• On Wednesday, September 16th, Lauren Lin sold 4,995 shares of Wealthfront stock. The shares were sold at an average price of $10.19, for a total transaction of $50,899.05.

Wealthfront Price Performance

Shares of Wealthfront stock traded down $0.05 during trading on Thursday, hitting $10.12. 3,124,872 shares of the stock were exchanged, compared to its average volume of 1,606,351. The firm’s 50-day moving average price is $9.46 and its 200 day moving average price is $9.69. The stock has a market cap of $1.58 billion and a price-to-earnings ratio of -10.88. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $91.87 million for the quarter. Wealthfront’s revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Wealthfront will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WLTH. Keefe, Bruyette & Woods dropped their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a report on Monday, July 13th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. JPMorgan Chase & Co. dropped their price target 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 price objective on shares of Wealthfront in a report on Thursday, September 10th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.00.

Hedge Funds Weigh In On Wealthfront

Several large investors have recently bought and sold shares of the stock. Index Venture Associates VI Ltd purchased a new position in shares of Wealthfront during the fourth quarter worth about $128,567,000. BlackRock Inc. acquired a new stake in shares of Wealthfront during the second quarter worth about $74,766,000. North Reef Capital Management LP lifted its holdings in shares of Wealthfront by 135.2% in the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after purchasing an additional 1,658,624 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Wealthfront in the 2nd quarter valued at about $24,706,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Wealthfront in the 1st quarter valued at about $12,950,000.

Wealthfront Company Profile

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.