Wealthfront (NASDAQ:WLTH) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Wealthfront (NASDAQ:WLTH) from a sell rating to a hold rating in a research note published on Saturday morning.

WLTH has been the subject of a number of other reports. Royal Bank Of Canada lowered their price target on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. The Goldman Sachs Group lowered their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company cut their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Wealthfront currently has a consensus rating of “Hold” and an average target price of $12.50.

Wealthfront Trading Down 2.0%

Shares of NASDAQ WLTH opened at $9.26 on Friday. The firm’s 50-day moving average price is $10.00. The stock has a market cap of $1.38 billion and a PE ratio of -8.99. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $90.48 million for the quarter. Wealthfront’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Wealthfront

In other news, VP Kal Iyer sold 45,772 shares of Wealthfront stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24. Following the completion of the transaction, the vice president directly owned 254,269 shares in the company, valued at approximately $2,268,079.48. This trade represents a 15.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Jaleh Bisharat sold 8,504 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $9.39, for a total value of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares in the company, valued at approximately $79,843.17. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 136,565 shares of company stock worth $1,193,520 over the last three months. Company insiders own 27.36% of the company’s stock.

Institutional Trading of Wealthfront

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in Wealthfront in the 4th quarter worth approximately $4,396,000. Teacher Retirement System of Texas purchased a new stake in Wealthfront during the 4th quarter valued at $2,310,000. Index Venture Associates VI Ltd bought a new stake in shares of Wealthfront in the 4th quarter worth $128,567,000. Dag Ventures LLC purchased a new position in shares of Wealthfront in the fourth quarter worth $187,725,000. Finally, Seven Grand Managers LLC bought a new position in shares of Wealthfront during the fourth quarter valued at $2,038,000.

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.