Wealthfront $WLTH Holdings Increased by Sei Investments Co.

Sei Investments Co. lifted its stake in Wealthfront (NASDAQ:WLTH) by 203.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,788 shares of the company’s stock after acquiring an additional 83,634 shares during the period. Sei Investments Co.’s holdings in Wealthfront were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Board of Trustees of The Leland Stanford Junior University bought a new stake in Wealthfront during the first quarter worth approximately $1,928,000. Jennison Associates LLC acquired a new stake in Wealthfront in the fourth quarter worth approximately $4,396,000. Teacher Retirement System of Texas bought a new position in Wealthfront during the 4th quarter valued at $2,310,000. Index Venture Associates VI Ltd bought a new position in Wealthfront during the 4th quarter valued at $128,567,000. Finally, FJ Capital Management LLC acquired a new position in shares of Wealthfront during the 4th quarter valued at $4,270,000.

Wealthfront Stock Performance

NASDAQ WLTH opened at $9.60 on Wednesday. The firm’s 50 day moving average price is $9.20 and its two-hundred day moving average price is $9.50. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The stock has a market cap of $1.43 billion and a price-to-earnings ratio of -9.32.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The firm’s revenue 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 fiscal year.

Insiders Place Their Bets

In other news, CTO Julien Wetterwald sold 39,810 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total value of $336,792.60. Following the transaction, the chief technology officer owned 727,052 shares in the company, valued at $6,150,859.92. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 45,772 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24. Following the sale, the vice president owned 254,269 shares of the company’s stock, valued at approximately $2,268,079.48. This represents a 15.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 136,565 shares of company stock worth $1,193,520. Insiders own 27.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WLTH shares. Wells Fargo & Company dropped their price objective on Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods decreased their target price on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research note on Monday, July 13th. JPMorgan Chase & Co. lowered their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Four investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.42.

Wealthfront 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.