Sei Investments Co. raised its stake in Wealthfront (NASDAQ:WLTH – Free Report) by 203.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 124,788 shares of the company’s stock after purchasing an additional 83,634 shares during the period. Sei Investments Co. owned 0.08% of Wealthfront worth $1,154,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Board of Trustees of The Leland Stanford Junior University acquired a new position in Wealthfront in the first quarter worth about $1,928,000. Jennison Associates LLC acquired a new stake in Wealthfront during the fourth quarter valued at approximately $4,396,000. Teacher Retirement System of Texas acquired a new stake in Wealthfront during the fourth quarter valued at approximately $2,310,000. Index Venture Associates VI Ltd bought a new position in Wealthfront during the 4th quarter worth approximately $128,567,000. Finally, Dag Ventures LLC bought a new position in Wealthfront during the 4th quarter worth approximately $187,725,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on WLTH shares. Royal Bank Of Canada lowered their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Keefe, Bruyette & Woods reduced their price objective 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wealthfront has a consensus rating of “Hold” and an average target price of $12.42.
Insiders Place Their Bets
In other Wealthfront news, insider Lauren Lin sold 4,840 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the completion of the transaction, the insider owned 158,092 shares in the company, valued at approximately $1,335,877.40. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 45,772 shares of the stock in a transaction 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 completion of the transaction, the vice president directly owned 254,269 shares of the company’s stock, valued at approximately $2,268,079.48. The trade was a 15.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders sold 136,565 shares of company stock valued at $1,193,520. 27.36% of the stock is owned by corporate insiders.
Wealthfront Stock Up 0.8%
Wealthfront stock opened at $9.60 on Wednesday. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The firm has a market capitalization of $1.43 billion and a price-to-earnings ratio of -9.32. The firm has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $9.50.
Wealthfront (NASDAQ:WLTH – Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million for the quarter. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts expect that Wealthfront will post 0.42 earnings per share for the current year.
About Wealthfront
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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