Whetstone Capital Advisors LLC Boosts Holdings in Wealthfront $WLTH

Whetstone Capital Advisors LLC increased its holdings in Wealthfront (NASDAQ:WLTH) by 10.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 604,160 shares of the company’s stock after purchasing an additional 57,753 shares during the period. Wealthfront makes up about 1.4% of Whetstone Capital Advisors LLC’s holdings, making the stock its 20th biggest holding. Whetstone Capital Advisors LLC’s holdings in Wealthfront were worth $5,401,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Wealthfront in the second quarter worth $90,000. Arizona State Retirement System purchased a new position in shares of Wealthfront in the second quarter worth about $102,000. California State Teachers Retirement System lifted its stake in shares of Wealthfront by 21,873.0% in the 2nd quarter. California State Teachers Retirement System now owns 425,177 shares of the company’s stock valued at $3,801,000 after acquiring an additional 423,242 shares during the last quarter. AXQ Capital LP purchased a new stake in Wealthfront during the 2nd quarter valued at about $105,000. Finally, ICONIQ Capital LLC bought a new position in Wealthfront during the 2nd quarter worth approximately $111,000.

Wealthfront Stock Down 1.8%

Shares of Wealthfront stock opened at $9.46 on Thursday. The business has a 50 day moving average of $9.33 and a 200 day moving average of $9.61. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88. The company has a market cap of $1.41 billion and a PE ratio of -9.18.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $91.87 million for the quarter. The company’s quarterly revenue was up .9% 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.

Insider Activity at Wealthfront

In related news, VP Kal Iyer sold 45,772 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24. Following the transaction, the vice president owned 254,269 shares in the company, valued at $2,268,079.48. The trade was a 15.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, CTO Julien Wetterwald sold 39,810 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $336,792.60. Following the completion of the transaction, the chief technology officer directly owned 727,052 shares of the company’s stock, valued at approximately $6,150,859.92. The trade was a 5.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,565 shares of company stock worth $1,193,520 over the last ninety days. Corporate insiders own 27.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WLTH. Keefe, Bruyette & Woods lowered their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. lowered their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. The Goldman Sachs Group cut their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. Finally, Royal Bank Of Canada dropped their target price 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. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.42.

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.