Wealthfront (NASDAQ:WLTH) Receives Average Recommendation of “Hold” from Brokerages

Wealthfront (NASDAQ:WLTH) has been given a consensus rating of “Hold” by the nine ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.50.

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday. Wall Street Zen lowered Wealthfront from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Royal Bank Of Canada decreased their price objective on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company lowered their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th.

Wealthfront Trading Down 0.3%

Shares of WLTH stock opened at $9.09 on Wednesday. The stock’s 50 day simple moving average is $10.12. The firm has a market cap of $1.36 billion and a P/E ratio of -8.83. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share 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% on a year-over-year basis. On average, research analysts forecast that Wealthfront will post 0.42 EPS for the current year.

Insider Activity

In other news, CTO Julien Wetterwald sold 39,810 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 $336,792.60. Following the sale, the chief technology officer owned 727,052 shares of the company’s stock, valued at approximately $6,150,859.92. This trade represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jaleh Bisharat sold 8,503 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total transaction of $80,778.50. Following the sale, the director owned 8,503 shares of the company’s stock, valued at $80,778.50. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 136,565 shares of company stock valued at $1,193,520. 27.36% of the stock is currently owned by company insiders.

Institutional Trading of Wealthfront

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in Wealthfront in the fourth quarter valued at approximately $4,396,000. Teacher Retirement System of Texas purchased a new position in Wealthfront during the 4th quarter worth $2,310,000. Index Venture Associates VI Ltd acquired a new stake in Wealthfront in the fourth quarter valued at about $128,567,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront in the 4th quarter valued at approximately $187,725,000. Finally, Element Capital Management LLC purchased a new stake in shares of Wealthfront during the 4th quarter worth $1,278,000.

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.