Element Capital Management LLC Invests $1.28 Million in Wealthfront $WLTH

Element Capital Management LLC acquired a new stake in Wealthfront (NASDAQ:WLTH) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 94,034 shares of the company’s stock, valued at approximately $1,278,000.

A number of other large investors have also made changes to their positions in WLTH. Tiger Global Management LLC purchased a new stake in shares of Wealthfront in the fourth quarter valued at about $205,982,000. Dag Ventures LLC purchased a new stake in shares of Wealthfront in the 4th quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront in the 4th quarter worth approximately $128,567,000. JPMorgan Chase & Co. purchased a new position in shares of Wealthfront during the 4th quarter worth approximately $27,725,000. Finally, Whale Rock Capital Management LLC acquired a new position in Wealthfront during the fourth quarter worth $21,744,000.

Insiders Place Their Bets

In other news, VP Kal Iyer sold 45,772 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $8.92, for a total value of $408,286.24. Following the completion of the sale, the vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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. Corporate insiders own 27.36% of the company’s stock.

Analyst Upgrades and Downgrades

WLTH has been the topic of several research reports. Wells Fargo & Company increased their target price on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Royal Bank Of Canada dropped their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. decreased their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Citizens Jmp lowered their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, March 16th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.75.

Wealthfront Price Performance

NASDAQ WLTH opened at $8.43 on Thursday. The company has a fifty day moving average of $10.78. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its earnings results 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 firm had revenue of $90.48 million during the quarter. Wealthfront’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Wealthfront will post 0.42 EPS for the current fiscal year.

About Wealthfront

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.