Wealthfront (NASDAQ:WLTH) Shares Down 4.7% – Time to Sell?

Wealthfront (NASDAQ:WLTH)’s stock price traded down 4.7% on Monday . The company traded as low as $8.29 and last traded at $8.30. 136,414 shares changed hands during trading, a decline of 92% from the average session volume of 1,607,351 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

A number of analysts recently commented on the stock. The Goldman Sachs Group set a $12.00 price objective on shares of Wealthfront in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Wells Fargo & Company lowered their price target on Wealthfront from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Zacks Research raised Wealthfront to a “hold” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Wealthfront currently has an average rating of “Moderate Buy” and a consensus target price of $13.75.

Wealthfront Trading Down 3.8%

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings data on Monday, January 12th. The company reported $0.21 earnings per share for the quarter. The business had revenue of $93.22 million for the quarter.

Institutional Trading of Wealthfront

Several institutional investors and hedge funds have recently made changes to their positions in WLTH. TD Asset Management Inc acquired a new position in Wealthfront in the 4th quarter valued at about $500,000. Goldman Sachs Group Inc. purchased a new stake in shares of Wealthfront during the fourth quarter worth about $8,139,000. Norges Bank acquired a new position in shares of Wealthfront in the fourth quarter valued at approximately $13,590,000. Seven Grand Managers LLC purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $2,038,000. Finally, Geode Capital Management LLC acquired a new stake in Wealthfront during the fourth quarter worth approximately $1,749,000.

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.