Wealthfront (NASDAQ:WLTH) Price Target Raised to $12.00

Wealthfront (NASDAQ:WLTH) had its price objective lifted by Wells Fargo & Company from $11.50 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $11.00 target price on shares of Wealthfront in a report on Wednesday, October 7th. Royal Bank Of Canada reduced their price objective on Wealthfront from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a report on Friday, October 2nd. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Wealthfront in a research report on Wednesday, October 7th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.36.

Wealthfront Stock Performance

WLTH opened at $10.60 on Tuesday. The stock has a market capitalization of $1.66 billion and a P/E ratio of -11.40. The company’s 50-day simple moving average is $10.29 and its two-hundred day simple moving average is $9.68. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, topping 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 firm had revenue of $91.87 million during the quarter. The company’s revenue was up .9% compared to the same quarter last year. Research analysts forecast that Wealthfront will post 0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Julien Wetterwald sold 26,138 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.10, for a total value of $263,993.80. Following the completion of the sale, the chief technology officer directly owned 696,525 shares in the company, valued at $7,034,902.50. This represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 4,574 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.10, for a total value of $46,197.40. Following the completion of the transaction, the insider directly owned 171,816 shares in the company, valued at approximately $1,735,341.60. This represents a 2.59% 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. Over the last quarter, insiders have sold 270,688 shares of company stock valued at $2,796,816. Company insiders own 27.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its position in shares of Wealthfront by 793.2% in the third quarter. Sterling Capital Management LLC now owns 2,751 shares of the company’s stock worth $29,000 after purchasing an additional 2,443 shares during the period. Royal Bank of Canada purchased a new stake in shares of Wealthfront in the first quarter worth $27,000. Strs Ohio purchased a new stake in shares of Wealthfront in the first quarter worth $56,000. Squarepoint Ops LLC bought a new stake in shares of Wealthfront during the 2nd quarter valued at $90,000. Finally, Arizona State Retirement System purchased a new position in shares of Wealthfront during the 2nd quarter valued at $102,000.

Wealthfront Company Profile

Wealthfront, Inc (NASDAQ:WLTH) is a digital wealth management and financial services company that provides automated investing, cash management and financial planning tools through an online platform. Its services are designed to help individuals manage savings and investments with limited reliance on traditional in-person financial advisers.

The company’s investment offerings include diversified, professionally managed portfolios, automated portfolio rebalancing and tax-focused features such as tax-loss harvesting and direct indexing, where available.