Wealthfront (NASDAQ:WLTH) Receives Average Rating of “Hold” from Brokerages

Wealthfront (NASDAQ:WLTH) has received a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.75.

Several equities analysts have recently issued reports on WLTH shares. Weiss Ratings started coverage on Wealthfront in a research report on Wednesday, March 11th. They set a “sell (d)” rating on the stock. JPMorgan Chase & Co. lowered 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. Royal Bank Of Canada reduced their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company raised their price objective on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Friday, June 5th.

Wealthfront Stock Performance

Shares of WLTH stock opened at $8.44 on Friday. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The firm’s fifty day moving average price is $10.72.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that Wealthfront will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Wealthfront

In other news, VP Kal Iyer sold 45,772 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $8.92, for a total transaction 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 $2,268,079.48. This trade represents a 15.26% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wealthfront

Several large investors have recently modified their holdings of WLTH. Tiger Global Management LLC bought a new stake in shares of Wealthfront during the 4th quarter worth $205,982,000. Dag Ventures LLC bought a new stake in shares of Wealthfront during the 4th quarter worth $187,725,000. Index Venture Associates VI Ltd bought a new stake in shares of Wealthfront during the 4th quarter worth $128,567,000. Wellington Management Group LLP bought a new stake in shares of Wealthfront during the 4th quarter worth $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Wealthfront in the fourth quarter worth $31,136,000.

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.