Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat Sells 8,504 Shares

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,504 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $9.39, for a total transaction of $79,852.56. Following the transaction, the director owned 8,503 shares in the company, valued at approximately $79,843.17. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jaleh Bisharat also recently made the following trade(s):

• On Tuesday, July 7th, Jaleh Bisharat sold 8,503 shares of Wealthfront stock. The stock was sold at an average price of $9.50, for a total transaction of $80,778.50.

Wealthfront Stock Down 5.1%

WLTH opened at $8.99 on Thursday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The firm has a market cap of $1.34 billion and a price-to-earnings ratio of -8.73. The stock has a 50-day simple moving average of $10.24.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WLTH. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a report on Monday. Keefe, Bruyette & Woods dropped their price objective on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Wall Street Zen downgraded shares of Wealthfront from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. reduced their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Finally, Royal Bank Of Canada lowered their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.58.

Hedge Funds Weigh In On Wealthfront

Several institutional investors have recently modified their holdings of WLTH. Bank of America Corp DE increased its position in shares of Wealthfront by 1,461.0% during the first quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock valued at $6,874,000 after acquiring an additional 695,555 shares during the last quarter. Stoic Point Capital Management LLC purchased a new position in Wealthfront in the first quarter worth $1,679,000. Royal Bank of Canada bought a new position in Wealthfront in the 1st quarter valued at $27,000. Southpoint Capital Advisors LP purchased a new stake in shares of Wealthfront during the 1st quarter valued at $12,950,000. Finally, SummitTX Capital L.P. purchased a new stake in shares of Wealthfront during the 1st quarter valued at $131,000.

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.