Wealthfront (NASDAQ:WLTH) CFO Sells 20,304 Shares

Wealthfront (NASDAQ:WLTH) CFO Alan Imberman sold 20,304 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $217,861.92. Following the completion of the transaction, the chief financial officer directly owned 479,802 shares of the company’s stock, valued at $5,148,275.46. This trade represents a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alan Imberman also recently made the following trade(s):

• On Wednesday, September 16th, Alan Imberman sold 6,292 shares of Wealthfront stock. The shares were sold at an average price of $10.19, for a total value of $64,115.48.

Wealthfront Trading Down 0.5%

Shares of NASDAQ:WLTH traded down $0.05 on Thursday, reaching $10.12. The company had a trading volume of 3,124,872 shares, compared to its average volume of 1,606,351. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The firm’s 50 day simple moving average is $9.46 and its 200-day simple moving average is $9.69. The firm has a market capitalization of $1.58 billion and a PE ratio of -10.88.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The firm had revenue of $91.87 million during the quarter. Wealthfront’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts predict that Wealthfront will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Wealthfront

Large investors have recently modified their holdings of the business. Index Venture Associates VI Ltd purchased a new stake in shares of Wealthfront during the fourth quarter worth about $128,567,000. BlackRock Inc. purchased a new position in shares of Wealthfront in the 2nd quarter valued at approximately $74,766,000. North Reef Capital Management LP boosted its stake in Wealthfront by 135.2% in the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after purchasing an additional 1,658,624 shares in the last quarter. Ieq Capital LLC acquired a new stake in Wealthfront in the 2nd quarter worth approximately $24,706,000. Finally, Southpoint Capital Advisors LP purchased a new stake in Wealthfront during the 1st quarter worth approximately $12,950,000.

Wall Street Analyst Weigh In

WLTH has been the subject of several analyst reports. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Royal Bank Of Canada lowered their target price on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. JPMorgan Chase & Co. cut 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 price target on shares of Wealthfront in a research report on Thursday, September 10th. Four 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, Wealthfront presently has an average rating of “Hold” and a consensus price target of $12.00.

About Wealthfront

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.