Wealthfront (NASDAQ:WLTH – Get Free Report) CTO Julien Wetterwald sold 26,231 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total transaction of $281,458.63. Following the completion of the sale, the chief technology officer owned 730,793 shares of the company’s stock, valued at approximately $7,841,408.89. This trade represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Julien Wetterwald also recently made the following trade(s):
- On Wednesday, September 16th, Julien Wetterwald sold 8,130 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total transaction of $82,844.70.
Wealthfront Stock Down 0.7%
Shares of NASDAQ:WLTH opened at $10.10 on Friday. The company’s fifty day moving average is $9.48 and its two-hundred day moving average is $9.70. The company has a market cap of $1.58 billion and a P/E ratio of -10.86. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88.
Hedge Funds Weigh In On Wealthfront
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WLTH. Whetstone Capital Advisors LLC raised its stake in shares of Wealthfront by 10.6% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 604,160 shares of the company’s stock valued at $5,401,000 after acquiring an additional 57,753 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Wealthfront during the 2nd quarter worth about $90,000. Arizona State Retirement System acquired a new position in shares of Wealthfront during the second quarter valued at about $102,000. AXQ Capital LP acquired a new stake in shares of Wealthfront during the 2nd quarter worth approximately $105,000. Finally, ICONIQ Capital LLC bought a new stake in Wealthfront in the 2nd quarter valued at $111,000.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on WLTH. Wells Fargo & Company reduced their price target on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods dropped their price objective on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 target price on shares of Wealthfront in a research note on Thursday, September 10th. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.00.
Check Out Our Latest Stock Analysis on Wealthfront
Wealthfront News Roundup
Here are the key news stories impacting Wealthfront this week:
- Positive Sentiment: Platform assets increased 12% year over year to $99 billion during the fiscal second quarter and exceeded $100 billion by the end of August. Funded clients also grew 14% to 1.51 million, supporting Wealthfront’s long-term growth story. Wealthfront Tops $100 Billion in Platform Assets
- Positive Sentiment: Quarterly earnings of $0.10 per share exceeded the $0.09 consensus estimate, while revenue reached $91.87 million.
- Neutral Sentiment: The key investor concern is whether asset and client growth can translate into stronger revenue and profitability: quarterly revenue rose only about 1% year over year, while Wealthfront continued to report a negative net margin and negative return on equity. Wealthfront Earnings Call: Growth Strong, Margins Tested
- Negative Sentiment: Several executives and insiders reported stock sales, including the CFO, CTO, two vice presidents, another insider and a director. The transactions totaled roughly $1.34 million across the disclosed sales, creating a potential overhang and likely contributing to the stock’s recent weakness. However, most sales were made to cover tax-withholding obligations tied to vested equity awards, and the director’s sale occurred under a pre-arranged Rule 10b5-1 plan, which makes the transactions less indicative of broad-based loss of confidence. Wealthfront Insider Sale Filing
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.
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