62,425 Shares in Wealthfront $WLTH Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Wealthfront (NASDAQ:WLTH) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 62,425 shares of the company’s stock, valued at approximately $558,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in shares of Wealthfront during the second quarter worth $222,000. Ieq Capital LLC acquired a new position in shares of Wealthfront in the second quarter valued at about $24,706,000. Wealthfront Advisers LLC bought a new position in Wealthfront during the second quarter worth about $774,000. AlpInvest Partners B.V. bought a new position in Wealthfront during the second quarter worth about $217,000. Finally, BlackRock Inc. acquired a new stake in Wealthfront in the 2nd quarter worth about $74,766,000.

Wealthfront Stock Up 1.2%

Shares of Wealthfront stock opened at $9.41 on Friday. The company has a market capitalization of $1.41 billion and a price-to-earnings ratio of -9.14. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The firm’s 50-day moving average price is $9.19 and its two-hundred day moving average price is $9.54.

Wealthfront (NASDAQ:WLTH) last issued its 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 firm had revenue of $90.48 million for the quarter. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Wealthfront will post 0.42 earnings per share for the current year.

Insider Activity

In related news, insider Lauren Lin sold 4,840 shares of Wealthfront stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the transaction, the insider directly owned 158,092 shares of the company’s stock, valued at $1,335,877.40. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jaleh Bisharat sold 8,504 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $9.39, for a total transaction of $79,852.56. Following the transaction, the director owned 8,503 shares of the company’s stock, valued at approximately $79,843.17. This represents a 50.00% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 136,565 shares of company stock valued at $1,193,520. 27.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on WLTH. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Keefe, Bruyette & Woods dropped their price target on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Monday, July 13th. The Goldman Sachs Group cut their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. Four equities 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 MarketBeat, Wealthfront presently has an average rating of “Hold” and an average target price 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.