Element Capital Management LLC purchased a new stake in shares of Wealthfront (NASDAQ:WLTH – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 94,034 shares of the company’s stock, valued at approximately $1,278,000. Element Capital Management LLC owned about 0.06% of Wealthfront as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $7,020,000. Azora Capital LP purchased a new stake in shares of Wealthfront in the fourth quarter worth $4,084,000. Freestone Grove Partners LP purchased a new position in shares of Wealthfront during the 4th quarter valued at $489,000. Schonfeld Strategic Advisors LLC bought a new position in Wealthfront in the 4th quarter worth $3,399,000. Finally, Burkehill Global Management LP bought a new stake in Wealthfront during the fourth quarter valued at about $4,756,000.
Insider Transactions at Wealthfront
In other news, VP Kal Iyer sold 45,772 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24. Following the sale, the vice president owned 254,269 shares of the company’s stock, valued at $2,268,079.48. This trade represents a 15.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 27.36% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Wealthfront
Wealthfront Trading Down 0.1%
Shares of Wealthfront stock opened at $8.43 on Thursday. The company’s 50 day moving average is $10.78. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88.
Wealthfront (NASDAQ:WLTH – Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share 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 was up 7.1% on a year-over-year basis. Research analysts forecast that Wealthfront will post 0.42 EPS for the current year.
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.
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