Monashee Investment Management LLC Takes $4.08 Million Position in Wealthfront $WLTH

Monashee Investment Management LLC acquired a new stake in Wealthfront (NASDAQ:WLTH) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 300,000 shares of the company’s stock, valued at approximately $4,077,000. Wealthfront comprises 2.3% of Monashee Investment Management LLC’s investment portfolio, making the stock its 17th largest holding. Monashee Investment Management LLC owned 0.20% of Wealthfront at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Wealthfront in the 4th quarter valued at $4,396,000. Teacher Retirement System of Texas acquired a new stake in shares of Wealthfront in the 4th quarter valued at $2,310,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront in the 4th quarter valued at $187,725,000. Seven Grand Managers LLC acquired a new stake in shares of Wealthfront in the 4th quarter valued at $2,038,000. Finally, UBS Group AG acquired a new stake in shares of Wealthfront in the 4th quarter valued at $2,243,000.

Wall Street Analyst Weigh In

WLTH has been the subject of several analyst reports. Citizens Jmp reduced 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. Wells Fargo & Company lifted their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Royal Bank Of Canada reduced 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. The Goldman Sachs Group reduced 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, Weiss Ratings initiated coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.75.

Wealthfront Price Performance

Wealthfront stock opened at $8.82 on Friday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The stock’s fifty day moving average price is $10.85.

Wealthfront (NASDAQ:WLTH) 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 for the quarter. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts forecast that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Wealthfront Profile

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.