Key Points
- Wealthfront VP Kal Iyer sold 28,498 shares on June 17 at an average price of $8.46, totaling about $241,093. The sale was part of a pre-arranged Rule 10b5-1 plan.
- Iyer also sold 45,772 shares on June 15 at $8.92 apiece, bringing his recent total selling activity to more than 74,000 shares. After the latest sale, he still directly owned 225,771 shares worth about $1.91 million.
- Wealthfront shares were down 2.6% and the company recently reported quarterly EPS of $0.07, missing estimates by $0.02. Analysts currently have a consensus Hold rating with a target price of $12.75.
Wealthfront (NASDAQ:WLTH - Get Free Report) insider Lauren Lin sold 4,840 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the transaction, the insider directly owned 158,092 shares in the company, valued at approximately $1,335,877.40. This represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wealthfront Price Performance
Shares of WLTH stock opened at $8.22 on Tuesday. The business's 50 day simple moving average is $10.69. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.
Wealthfront (NASDAQ:WLTH - Get Free Report) last released its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. Wealthfront's revenue was up 7.1% on a year-over-year basis. Research analysts expect that Wealthfront will post 0.42 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have commented on WLTH. Keefe, Bruyette & Woods dropped their target price on shares of Wealthfront from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Friday, June 5th. The Goldman Sachs Group lowered their price target on Wealthfront from $12.00 to $10.50 and set a "neutral" rating for the company in a report on Thursday, March 12th. Weiss Ratings initiated coverage on Wealthfront in a research note on Wednesday, March 11th. They issued a "sell (d)" rating on the stock. Royal Bank Of Canada reduced 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. Finally, Wells Fargo & Company lifted their target price on Wealthfront from $12.00 to $13.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Wealthfront presently has an average rating of "Hold" and an average price target of $12.75.
Get Our Latest Report on WLTH
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Realta Investment Advisors purchased a new stake in shares of Wealthfront during the 4th quarter worth $194,000. Teacher Retirement System of Texas purchased a new position in Wealthfront in the fourth quarter valued at about $2,310,000. Teachers Retirement System of The State of Kentucky purchased a new position in Wealthfront in the fourth quarter valued at about $453,000. UBS Group AG bought a new position in Wealthfront in the fourth quarter worth about $2,243,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Wealthfront during the fourth quarter valued at about $326,000.
About Wealthfront
(
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.
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