Seven Grand Managers LLC Makes New Investment in Wealthfront $WLTH

Seven Grand Managers LLC purchased a new position in Wealthfront (NASDAQ:WLTH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the company’s stock, valued at approximately $2,038,000. Seven Grand Managers LLC owned about 0.10% of Wealthfront at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Wealthfront in the fourth quarter worth $4,396,000. Teacher Retirement System of Texas purchased a new position in shares of Wealthfront in the fourth quarter worth $2,310,000. Dag Ventures LLC purchased a new position in shares of Wealthfront in the fourth quarter worth $187,725,000. Geode Capital Management LLC purchased a new position in shares of Wealthfront in the fourth quarter worth $1,749,000. Finally, UBS Group AG purchased a new position in shares of Wealthfront in the fourth quarter worth $2,243,000.

Wealthfront Stock Performance

Shares of WLTH opened at $11.98 on Thursday. The stock’s 50-day moving average is $10.37. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.07). The business had revenue of $96.14 million during the quarter, compared to the consensus estimate of $91.95 million. On average, analysts expect that Wealthfront will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citizens Jmp decreased their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, March 16th. Weiss Ratings initiated coverage on shares of Wealthfront in a report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Wells Fargo & Company increased their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Royal Bank Of Canada decreased their target price on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $9.50 price target (down from $13.50) on shares of Wealthfront in a research report on Thursday, March 12th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.33.

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.