Wealthfront (NASDAQ:WLTH – Get Free Report) had its target price upped by Wells Fargo & Company from $11.50 to $12.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 14.67% from the company’s previous close.
Other analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Wealthfront in a research report on Wednesday, October 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Wealthfront in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods lowered their price target on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Finally, Royal Bank Of Canada cut their price target on Wealthfront from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. Five 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.com, Wealthfront has an average rating of “Hold” and an average price target of $12.36.
View Our Latest Report on WLTH
Wealthfront Price Performance
Shares of Wealthfront stock traded up $0.03 during midday trading on Tuesday, hitting $10.46. The company had a trading volume of 122,189 shares, compared to its average volume of 1,795,372. The business’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $9.67. The stock has a market cap of $1.63 billion and a PE ratio of -11.28. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.
Wealthfront (NASDAQ:WLTH – Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $91.87 million for the quarter. Wealthfront had a negative net margin of 19.42% and a negative return on equity of 14.62%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Wealthfront will post 0.37 EPS for the current fiscal year.
Insider Activity
In related news, CFO Alan Imberman sold 76,540 shares of Wealthfront stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $10.10, for a total value of $773,054.00. Following the completion of the transaction, the chief financial officer directly owned 396,970 shares of the company’s stock, valued at $4,009,397. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Julien Wetterwald sold 26,138 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $10.10, for a total transaction of $263,993.80. Following the transaction, the chief technology officer owned 696,525 shares in the company, valued at $7,034,902.50. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 270,688 shares of company stock valued at $2,796,816 over the last three months. 27.36% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Wealthfront in the second quarter valued at approximately $74,766,000. North Reef Capital Management LP boosted its position in shares of Wealthfront by 135.2% during the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after purchasing an additional 1,658,624 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Wealthfront in the 2nd quarter valued at $24,706,000. Southpoint Capital Advisors LP acquired a new position in shares of Wealthfront in the 1st quarter valued at $12,950,000. Finally, Congress Asset Management Co. increased its position in shares of Wealthfront by 22.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,129,703 shares of the company’s stock valued at $11,726,000 after buying an additional 204,498 shares in the last quarter.
Wealthfront Company Profile
Wealthfront, Inc (NASDAQ:WLTH) is a digital wealth management and financial services company that provides automated investing, cash management and financial planning tools through an online platform. Its services are designed to help individuals manage savings and investments with limited reliance on traditional in-person financial advisers.
The company’s investment offerings include diversified, professionally managed portfolios, automated portfolio rebalancing and tax-focused features such as tax-loss harvesting and direct indexing, where available.
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