Kal Iyer Sells 28,498 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 28,498 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $241,093.08. Following the sale, the vice president directly owned 225,771 shares in the company, valued at $1,910,022.66. This represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kal Iyer also recently made the following trade(s):

• On Monday, June 15th, Kal Iyer sold 45,772 shares of Wealthfront stock. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24.

Wealthfront Price Performance

Shares of WLTH opened at $8.21 on Wednesday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The company has a fifty day simple moving average of $10.65.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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% compared to the same quarter last year. On average, analysts forecast that Wealthfront will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on WLTH shares. JPMorgan Chase & Co. reduced their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Weiss Ratings initiated coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Wells Fargo & Company lifted their price target 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 lowered their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods cut their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Wealthfront currently has an average rating of “Hold” and a consensus target price of $12.75.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Wealthfront by 1,461.0% during the 1st quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock valued at $6,874,000 after acquiring an additional 695,555 shares in the last quarter. Stoic Point Capital Management LLC acquired a new stake in shares of Wealthfront during the first quarter worth $1,679,000. Royal Bank of Canada bought a new position in shares of Wealthfront in the 1st quarter worth about $27,000. Southpoint Capital Advisors LP acquired a new position in shares of Wealthfront in the 1st quarter valued at about $12,950,000. Finally, SummitTX Capital L.P. bought a new stake in shares of Wealthfront during the 1st quarter valued at about $131,000.

Key Stories Impacting Wealthfront

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Wealthfront announced a new Custodial Account aimed at families, expanding its wealth management lineup and potentially broadening its customer base. Wealthfront Launches Tax-Efficient Custodial Account with $100 Seed Funding, Expands Family Wealth Management Offering
• Positive Sentiment: The new account includes automated tax-efficient investing features and a $100 seed-funding promotion, which could help attract new deposits and improve client engagement. Wealthfront Launches Custodial Account to Expand Family Wealth Management Offerings
• Neutral Sentiment: Recent analyst commentary and prior earnings context remain mixed, with the stock already trading below its 50-day moving average after a recent earnings miss.
• Negative Sentiment: Multiple insiders, including the CTO and a VP, sold shares recently; while the trades were made under pre-arranged plans, insider sales can still pressure sentiment. Wealthfront (NASDAQ:WLTH) Insider Sells $40,898.00 in Stock
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Wealthfront investors, adding a legal overhang that may weigh on the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wealthfront Corporation – WLTH

About Wealthfront

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.