Jaleh Bisharat Sells 8,503 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,503 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 8,503 shares of the company’s stock, valued at $80,778.50. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jaleh Bisharat also recently made the following trade(s):

• On Monday, July 6th, Jaleh Bisharat sold 8,504 shares of Wealthfront stock. The stock was sold at an average price of $9.39, for a total transaction of $79,852.56.

Wealthfront Price Performance

Shares of NASDAQ WLTH opened at $9.31 on Friday. The stock has a market cap of $1.39 billion and a P/E ratio of -9.04. The business has a 50 day simple moving average of $10.21. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its quarterly 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 during the quarter. The company’s revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WLTH shares. Wells Fargo & Company lowered 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. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a report on Monday. Wall Street Zen lowered shares of Wealthfront from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Keefe, Bruyette & Woods dropped their target price on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Finally, Royal Bank Of Canada reduced their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Wealthfront presently has a consensus rating of “Hold” and an average price target of $12.58.

Institutional Investors Weigh In On Wealthfront

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WLTH. Royal Bank of Canada purchased a new stake in Wealthfront during the first quarter valued at about $27,000. Sandia Investment Management LP purchased a new stake in shares of Wealthfront during the 4th quarter valued at approximately $44,000. Strs Ohio bought a new position in Wealthfront in the 1st quarter worth approximately $56,000. Barclays PLC purchased a new position in Wealthfront in the 4th quarter valued at approximately $136,000. Finally, Symmetry Investments LP bought a new stake in Wealthfront during the 4th quarter valued at $190,000.

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.