FJ Capital Management LLC Invests $4.27 Million in Wealthfront $WLTH

FJ Capital Management LLC bought a new position in shares of Wealthfront (NASDAQ:WLTH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 314,187 shares of the company’s stock, valued at approximately $4,270,000. FJ Capital Management LLC owned about 0.21% of Wealthfront at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dag Ventures LLC acquired a new position in shares of Wealthfront during the 4th quarter worth approximately $187,725,000. Index Venture Associates VI Ltd purchased a new stake in shares of Wealthfront during the 4th quarter valued at approximately $128,567,000. JPMorgan Chase & Co. purchased a new stake in shares of Wealthfront during the 4th quarter valued at approximately $27,725,000. Norges Bank purchased a new stake in Wealthfront in the fourth quarter valued at approximately $13,590,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Wealthfront in the fourth quarter valued at approximately $12,231,000.

Wealthfront Price Performance

Shares of WLTH stock opened at $8.96 on Friday. The stock’s fifty day moving average price is $10.84. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its 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 for the quarter. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that Wealthfront will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group cut their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Wells Fargo & Company boosted their target price on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Keefe, Bruyette & Woods cut their price objective on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.75.

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.