181,555 Shares in Wealthfront $WLTH Purchased by Stoic Point Capital Management LLC

Stoic Point Capital Management LLC bought a new position in shares of Wealthfront (NASDAQ:WLTH) during the 1st quarter, HoldingsChannel reports. The firm bought 181,555 shares of the company’s stock, valued at approximately $1,679,000. Wealthfront comprises approximately 1.6% of Stoic Point Capital Management LLC’s holdings, making the stock its 11th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $4,396,000. North Reef Capital Management LP raised its stake in Wealthfront by 135.2% in the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after buying an additional 1,658,624 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in Wealthfront in the first quarter worth approximately $12,950,000. Board of Trustees of The Leland Stanford Junior University purchased a new stake in Wealthfront during the first quarter worth $1,928,000. Finally, Teacher Retirement System of Texas purchased a new stake in Wealthfront during the fourth quarter worth $2,310,000.

Wealthfront Stock Up 3.2%

Shares of NASDAQ:WLTH opened at $9.54 on Wednesday. The company’s 50-day simple moving average is $9.67. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The firm has a market cap of $1.42 billion and a price-to-earnings ratio of -9.26.

Wealthfront (NASDAQ:WLTH) last issued its quarterly 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 business had revenue of $90.48 million during the quarter. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WLTH shares. JPMorgan Chase & Co. cut their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Keefe, Bruyette & Woods decreased their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada cut their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Four research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.50.

Insider Activity at Wealthfront

In other Wealthfront news, CTO Julien Wetterwald sold 39,810 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total transaction of $336,792.60. Following the transaction, the chief technology officer owned 727,052 shares in the company, valued at approximately $6,150,859.92. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 45,772 shares of Wealthfront 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 sale, the vice president owned 254,269 shares of the company’s stock, valued at $2,268,079.48. The trade was a 15.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders have sold 136,565 shares of company stock worth $1,193,520. 27.36% of the stock is owned by company insiders.

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.