Wealthfront (NASDAQ:WLTH) CTO Sells 26,231 Shares

Wealthfront (NASDAQ:WLTH) CTO Julien Wetterwald sold 26,231 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total value of $281,458.63. Following the completion of the sale, the chief technology officer owned 730,793 shares in the company, valued at $7,841,408.89. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Julien Wetterwald also recently made the following trade(s):

• On Wednesday, September 16th, Julien Wetterwald sold 8,130 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total transaction of $82,844.70.

Wealthfront Price Performance

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

Wealthfront (NASDAQ:WLTH) last posted its earnings results 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. Wealthfront had a negative net margin of 19.42% and a negative return on equity of 14.62%. 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. On average, equities analysts anticipate that Wealthfront will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Wealthfront

A number of institutional investors have recently added to or reduced their stakes in the company. Index Venture Associates VI Ltd bought a new stake in Wealthfront in the fourth quarter worth about $128,567,000. BlackRock Inc. acquired a new stake in Wealthfront in the 2nd quarter valued at about $74,766,000. Ieq Capital LLC bought a new position in shares of Wealthfront during the 2nd quarter valued at about $24,706,000. North Reef Capital Management LP grew its stake in shares of 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 during the last quarter. Finally, Southpoint Capital Advisors LP bought a new stake in shares of Wealthfront in the 1st quarter worth approximately $12,950,000.

Analyst Upgrades and Downgrades

WLTH has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research report on Monday, July 13th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.00 price target on shares of Wealthfront in a research note on Thursday, September 10th. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wealthfront presently has a consensus rating of “Hold” and a consensus target price 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.