Insider Selling: Wealthfront (NASDAQ:WLTH) VP Sells 45,772 Shares of Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 45,772 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24. Following the transaction, the vice president owned 254,269 shares in the company, valued at approximately $2,268,079.48. This trade represents a 15.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Wealthfront Trading Down 0.1%

Wealthfront stock traded down $0.01 during mid-day trading on Wednesday, reaching $8.43. The company had a trading volume of 2,816,048 shares, compared to its average volume of 1,575,367. The business’s 50-day simple moving average is $10.80. 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 data 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 during the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Wealthfront will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

WLTH has been the topic of several recent research reports. 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 research report on Friday, June 5th. Citizens Jmp lowered their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. The Goldman Sachs Group lowered their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tiger Global Management LLC acquired a new stake in shares of Wealthfront during the 4th quarter worth about $205,982,000. Dag Ventures LLC acquired a new position in shares of Wealthfront in the fourth quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $128,567,000. Wellington Management Group LLP acquired a new stake in Wealthfront during the fourth quarter worth approximately $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Wealthfront during the fourth quarter worth approximately $31,136,000.

Wealthfront Company 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.