Wealthfront (NASDAQ:WLTH) Sees Unusually-High Trading Volume – Here’s What Happened

Wealthfront (NASDAQ:WLTH) saw unusually-strong trading volume on Monday . Approximately 1,279,363 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 1,418,339 shares.The stock last traded at $8.8830 and had previously closed at $9.85.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WLTH shares. JPMorgan Chase & Co. reduced their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday. Citizens Jmp reduced their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, March 16th. Wells Fargo & Company upped their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Weiss Ratings assumed coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.75.

Wealthfront Stock Performance

The business’s 50 day moving average is $10.87.

Wealthfront (NASDAQ:WLTH) last posted its 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. Wealthfront’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Wealthfront will post 0.46 earnings per share for the current year.

Institutional Trading of Wealthfront

Several large investors have recently added to or reduced their stakes in WLTH. Jennison Associates LLC bought a new stake in Wealthfront during the fourth quarter worth approximately $4,396,000. Teacher Retirement System of Texas acquired a new position in shares of Wealthfront during the 4th quarter worth about $2,310,000. Dag Ventures LLC acquired a new position in shares of Wealthfront during the 4th quarter worth about $187,725,000. Seven Grand Managers LLC acquired a new position in shares of Wealthfront during the fourth quarter valued at about $2,038,000. Finally, UBS Group AG acquired a new position in shares of Wealthfront during the fourth quarter valued at about $2,243,000.

Wealthfront Company Profile

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.