Wealthfront (NASDAQ:WLTH) Receives Average Rating of “Hold” from Analysts

Shares of Wealthfront (NASDAQ:WLTH) have received a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.4167.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Keefe, Bruyette & Woods decreased their price target on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, 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.

Insider Activity at Wealthfront

In other Wealthfront news, insider Lauren Lin sold 4,840 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total transaction of $40,898.00. Following the transaction, the insider directly owned 158,092 shares of the company’s stock, valued at approximately $1,335,877.40. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jaleh Bisharat sold 8,503 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total transaction of $80,778.50. Following the completion of the transaction, the director owned 8,503 shares of the company’s stock, valued at $80,778.50. This trade 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. In the last ninety days, insiders have sold 136,565 shares of company stock worth $1,193,520. 27.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wealthfront

A number of institutional investors have recently added to or reduced their stakes in WLTH. Tiger Global Management LLC bought a new stake in Wealthfront during the fourth quarter worth about $205,982,000. Dag Ventures LLC purchased a new stake in Wealthfront during the 4th quarter valued at $187,725,000. Index Venture Associates VI Ltd bought a new position in Wealthfront in the fourth quarter valued at about $128,567,000. BlackRock Inc. purchased a new position in shares of Wealthfront in the second quarter worth approximately $74,766,000. Finally, Wellington Management Group LLP purchased a new stake in Wealthfront in the fourth quarter worth about $54,182,000.

Wealthfront Stock Up 1.7%

Wealthfront stock opened at $9.01 on Thursday. The stock has a market cap of $1.35 billion and a price-to-earnings ratio of -8.75. The business has a 50-day simple moving average of $9.26 and a 200 day simple moving average of $9.57. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that Wealthfront will post 0.4 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.