Key Points
- Wealthfront VP Kal Iyer sold 45,772 shares on June 15 at an average price of $8.92, for proceeds of about $408,286. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- After the transaction, Iyer still held 254,269 shares valued at roughly $2.27 million, a 15.26% reduction in his position.
- Wealthfront recently reported quarterly earnings of $0.07 per share, missing estimates, while revenue rose 7.1% year over year to $90.48 million. Analysts currently have a consensus Hold rating with an average price target of $12.75.
Wealthfront (NASDAQ:WLTH - Get Free Report) VP Kal Iyer sold 45,772 shares of the business'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 owned 254,269 shares in the company, valued at $2,268,079.48. This represents a 15.26% decrease in their position. The sale 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.
Wealthfront Trading Down 0.1%
Shares of WLTH opened at $8.43 on Thursday. The stock has a fifty day simple moving average of $10.78. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88.
Wealthfront (NASDAQ:WLTH - Get Free Report) last announced 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 company had revenue of $90.48 million for the quarter. Wealthfront's quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Wealthfront will post 0.42 EPS for the current year.
Analyst Ratings Changes
Several research analysts have commented on WLTH shares. Keefe, Bruyette & Woods dropped their price objective on shares of Wealthfront from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Friday, June 5th. Citizens Jmp dropped their price objective on shares of Wealthfront from $20.00 to $17.00 and set a "market outperform" rating for the company in a research note on Monday, March 16th. Weiss Ratings started coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They set a "sell (d)" rating for the company. The Goldman Sachs Group dropped their price objective on shares of Wealthfront from $12.00 to $10.50 and set a "neutral" rating for the company in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada dropped their price objective on shares of Wealthfront from $14.00 to $13.00 and set an "outperform" rating for the company 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.75.
Get Our Latest Report on Wealthfront
Institutional Trading of Wealthfront
A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in shares of Wealthfront during the first quarter valued at $27,000. Sandia Investment Management LP purchased a new stake in shares of Wealthfront during the fourth quarter valued at $44,000. Strs Ohio purchased a new stake in shares of Wealthfront during the first quarter valued at $56,000. Barclays PLC purchased a new stake in shares of Wealthfront during the fourth quarter valued at $136,000. Finally, Symmetry Investments LP purchased a new stake in shares of Wealthfront during the fourth quarter valued at $190,000.
Wealthfront Company Profile
(
Get Free Report)
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.
Further Reading
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