Wealthfront (NASDAQ:WLTH – Get Free Report) Director Jaleh Bisharat sold 8,503 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total value of $80,778.50. Following the completion of the sale, the director directly owned 8,503 shares in the company, valued at $80,778.50. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jaleh Bisharat also recently made the following trade(s):
- On Monday, July 6th, Jaleh Bisharat sold 8,504 shares of Wealthfront stock. The stock was sold at an average price of $9.39, for a total value of $79,852.56.
Wealthfront Price Performance
NASDAQ:WLTH opened at $8.99 on Thursday. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88. The firm has a market cap of $1.34 billion and a price-to-earnings ratio of -8.73. The company has a fifty day moving average of $10.24.
Analysts Set New Price Targets
A number of research firms have issued reports on WLTH. Keefe, Bruyette & Woods cut their target price on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Friday, June 5th. Citizens Jmp dropped their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. Wall Street Zen cut Wealthfront from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Royal Bank Of Canada dropped their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a report on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.58.
Check Out Our Latest Stock Report on WLTH
Hedge Funds Weigh In On Wealthfront
Several large investors have recently made changes to their positions in WLTH. Royal Bank of Canada acquired a new stake in Wealthfront in the 1st quarter valued at approximately $27,000. Sandia Investment Management LP acquired a new position in shares of Wealthfront during the fourth quarter worth approximately $44,000. Strs Ohio bought a new stake in shares of Wealthfront in the first quarter valued at approximately $56,000. Barclays PLC acquired a new stake in shares of Wealthfront in the fourth quarter worth $136,000. Finally, Symmetry Investments LP bought a new position in Wealthfront during the fourth quarter worth $190,000.
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.
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