Wealthfront (NASDAQ:WLTH) CFO Alan Imberman Sells 20,304 Shares

Wealthfront (NASDAQ:WLTH) CFO Alan Imberman sold 20,304 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $217,861.92. Following the sale, the chief financial officer owned 479,802 shares in the company, valued at approximately $5,148,275.46. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alan Imberman also recently made the following trade(s):

• On Wednesday, September 16th, Alan Imberman sold 6,292 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total transaction of $64,115.48.

Wealthfront Price Performance

Shares of NASDAQ WLTH opened at $10.10 on Friday. The stock has a market cap of $1.58 billion and a PE ratio of -10.86. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The firm has a fifty day moving average price of $9.48 and a 200-day moving average price of $9.70.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Wealthfront had a negative net margin of 19.42% and a negative return on equity of 14.62%. The company had revenue of $91.87 million for the quarter. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts expect that Wealthfront will post 0.41 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Royal Bank Of Canada reduced their price objective on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.00 price target on shares of Wealthfront in a research note on Thursday, September 10th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, JPMorgan Chase & Co. reduced 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. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wealthfront has an average rating of “Hold” and a consensus price target of $12.00.

Institutional Investors Weigh In On Wealthfront

Hedge funds have recently bought and sold shares of the business. Index Venture Associates VI Ltd bought a new position in Wealthfront during the fourth quarter valued at $128,567,000. BlackRock Inc. bought a new stake in shares of Wealthfront in the 2nd quarter worth about $74,766,000. Ieq Capital LLC purchased a new stake in shares of Wealthfront during the 2nd quarter valued at about $24,706,000. North Reef Capital Management LP raised its position in shares of Wealthfront by 135.2% during the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after buying an additional 1,658,624 shares in the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of Wealthfront in the 1st quarter valued at about $12,950,000.

Wealthfront News Roundup

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Platform assets rose 12% year over year to $99 billion in the fiscal second quarter and surpassed $100 billion by the end of August. Funded clients increased 14% to 1.51 million, reinforcing Wealthfront’s long-term growth potential. Wealthfront Tops $100 Billion in Platform Assets
• Positive Sentiment: Wealthfront reported quarterly earnings of $0.10 per share, exceeding the $0.09 analyst consensus, with revenue of $91.87 million. Analysts currently expect approximately $0.41 in earnings per share for the full year.
• Neutral Sentiment: The company’s asset and client growth has not yet translated into comparable financial growth: revenue increased only about 1% year over year, while Wealthfront continued to post a negative net margin and negative return on equity. This raises questions about the pace of margin improvement.
• Neutral Sentiment: Analyst sentiment remains mixed. Goldman Sachs maintained a neutral rating with a $10 target, while RBC and JPMorgan reduced their price targets to $11 and $12, respectively, but retained outperform or overweight ratings. The broader consensus is “Hold,” with a $12 target price.
• Negative Sentiment: Executives and other insiders disclosed roughly $1.34 million in combined stock sales, including transactions by the CFO, CTO, two vice presidents, another insider and a director. The sales could weigh on sentiment, although most were explicitly made for tax withholding and one occurred under a pre-arranged Rule 10b5-1 plan. Wealthfront Insider Sales

Wealthfront Company Profile

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.