13,813,474 Shares in Wealthfront $WLTH Acquired by Dag Ventures LLC

Dag Ventures LLC purchased a new position in shares of Wealthfront (NASDAQ:WLTH) during the fourth quarter, HoldingsChannel reports. The firm purchased 13,813,474 shares of the company’s stock, valued at approximately $187,725,000. Wealthfront makes up 99.3% of Dag Ventures LLC’s investment portfolio, making the stock its largest position. Dag Ventures LLC owned about 0.09% of Wealthfront as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in Wealthfront during the 4th quarter worth approximately $4,396,000. Teacher Retirement System of Texas purchased a new stake in shares of Wealthfront in the fourth quarter worth approximately $2,310,000. Realta Investment Advisors purchased a new stake in shares of Wealthfront in the fourth quarter worth approximately $194,000. Wealthfront Advisers LLC purchased a new stake in shares of Wealthfront in the fourth quarter worth approximately $326,000. Finally, UBS Group AG purchased a new stake in shares of Wealthfront in the fourth quarter worth approximately $2,243,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WLTH. Wells Fargo & Company increased their price objective on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.50 price objective (down from $13.50) on shares of Wealthfront in a research note on Thursday, March 12th. Citizens Jmp lowered their price objective on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, March 16th. Weiss Ratings began coverage on Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Wealthfront from $16.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.33.

Wealthfront Price Performance

WLTH stock opened at $11.15 on Thursday. The firm has a 50 day simple moving average of $9.71. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Wednesday, March 11th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.07). The firm had revenue of $96.14 million during the quarter, compared to the consensus estimate of $91.95 million. Analysts anticipate that Wealthfront will post 0.46 earnings per share for the current fiscal 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.