Key Points
- Wealthfront director Jaleh Bisharat sold 8,504 shares on July 6 at an average price of $9.39, totaling about $79,853. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Following that transaction, Bisharat’s direct holdings fell by 50% to 8,503 shares, valued at roughly $79,843. A separate sale of 8,503 shares on July 7 at $9.50 was also disclosed.
- Wealthfront shares were down 5.1% and opened at $8.99, while the company recently reported quarterly EPS of $0.07, missing expectations. Analysts currently have a mixed view, with an average rating of Hold and a consensus price target of $12.58.
Wealthfront (NASDAQ:WLTH - Get Free Report) Director Jaleh Bisharat sold 8,504 shares of Wealthfront stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $9.39, for a total transaction of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares in the company, valued at approximately $79,843.17. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $9.50, for a total transaction of $80,778.50.
Wealthfront Stock Down 5.1%
Wealthfront stock opened at $8.99 on Thursday. The company's 50 day moving average is $10.24. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The company has a market cap of $1.34 billion and a P/E ratio of -8.73.
Wealthfront (NASDAQ:WLTH - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The company had revenue of $90.48 million for the quarter. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Wealthfront will post 0.42 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on WLTH shares. Royal Bank Of Canada lowered 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. JPMorgan Chase & Co. decreased their price objective on Wealthfront from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, June 5th. The Goldman Sachs Group lowered their price objective on Wealthfront from $12.00 to $10.50 and set a "neutral" rating on the stock in a research note on Thursday, July 2nd. Citizens Jmp dropped their price objective on shares of Wealthfront from $20.00 to $17.00 and set a "market outperform" rating on the stock in a report on Monday, March 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Wealthfront from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.58.
Check Out Our Latest Analysis on WLTH
Hedge Funds Weigh In On Wealthfront
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new position in shares of Wealthfront in the first quarter valued at $27,000. Sandia Investment Management LP purchased a new stake in Wealthfront during the 4th quarter worth about $44,000. Strs Ohio purchased a new stake in Wealthfront during the 1st quarter worth about $56,000. SummitTX Capital L.P. bought a new position in Wealthfront in the 1st quarter worth about $131,000. Finally, Barclays PLC bought a new position in Wealthfront in the 4th quarter worth about $136,000.
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.
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