Wealthfront (NASDAQ:WLTH) Given Average Rating of “Hold” by Analysts

Wealthfront (NASDAQ:WLTH – Get Free Report) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $12.75.

A number of analysts have recently weighed in on the company. Citizens Jmp dropped their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group dropped their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Keefe, Bruyette & Woods dropped their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Weiss Ratings assumed coverage on Wealthfront in a research report on Wednesday, March 11th. They set a “sell (d)” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th.

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Insider Buying and Selling

In related news, VP Kal Iyer sold 45,772 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $8.92, for a total value of $408,286.24. Following the sale, the vice president directly owned 254,269 shares in the company, valued at $2,268,079.48. This trade represents a 15.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. 27.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Wealthfront

Several large investors have recently added to or reduced their stakes in the business. Tiger Global Management LLC acquired a new stake in Wealthfront in the 4th quarter valued at approximately $205,982,000. Dag Ventures LLC acquired a new stake in Wealthfront in the 4th quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd acquired a new stake in Wealthfront in the 4th quarter valued at approximately $128,567,000. Wellington Management Group LLP acquired a new stake in Wealthfront in the 4th quarter valued at approximately $54,182,000. Finally, North Reef Capital Management LP increased its position in shares of Wealthfront by 135.2% during the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after purchasing an additional 1,658,624 shares during the period.

Wealthfront Price Performance

Shares of NASDAQ WLTH opened at $8.44 on Friday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The company’s 50 day simple moving average is $10.72.

Wealthfront (NASDAQ:WLTH – Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts expect that Wealthfront will post 0.42 earnings per share for the current fiscal year.

About Wealthfront

(Get Free Report)

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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