UBS Group AG Buys Shares of 165,044 Wealthfront $WLTH

UBS Group AG bought a new stake in Wealthfront (NASDAQ:WLTH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 165,044 shares of the company’s stock, valued at approximately $2,243,000. UBS Group AG owned approximately 0.11% of Wealthfront at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. 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. Finally, Realta Investment Advisors purchased a new position in Wealthfront in the fourth quarter valued at about $194,000.

Wealthfront Stock Down 0.2%

WLTH opened at $11.98 on Thursday. The business’s 50-day moving average is $10.37. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.07). The company had revenue of $96.14 million during the quarter, compared to analyst estimates of $91.95 million. On average, equities research analysts forecast that Wealthfront will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on WLTH. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.50 target price (down from $13.50) on shares of Wealthfront in a research note on Thursday, March 12th. Citizens Jmp decreased their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. decreased their price target on Wealthfront from $16.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Weiss Ratings started coverage on Wealthfront in a research note on Wednesday, March 11th. They set a “sell (d)” rating for the company. Finally, Royal Bank Of Canada decreased their price target on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Wealthfront currently has a consensus rating of “Hold” and a consensus price target of $12.33.

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.