1,386,092 Shares in Wealthfront $WLTH Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC bought a new position in shares of Wealthfront (NASDAQ:WLTH) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,386,092 shares of the company’s stock, valued at approximately $18,837,000. Granahan Investment Management LLC owned approximately 0.92% of Wealthfront as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State of Wisconsin Investment Board acquired a new stake in Wealthfront during the fourth quarter worth about $680,000. Dragoneer Investment Group LLC bought a new position in Wealthfront during the fourth quarter worth about $8,892,000. ExodusPoint Capital Management LP bought a new position in Wealthfront during the fourth quarter worth about $5,436,000. Squarepoint Ops LLC bought a new position in Wealthfront during the fourth quarter worth about $2,073,000. Finally, PEAK6 LLC bought a new position in Wealthfront during the fourth quarter worth about $2,837,000.

Wealthfront Price Performance

NASDAQ:WLTH opened at $8.44 on Wednesday. The firm has a 50 day moving average price of $10.80. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its quarterly 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 company had revenue of $90.48 million for the quarter. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wealthfront will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WLTH shares. Wells Fargo & Company raised their price target on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group cut their price target 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. Royal Bank Of Canada cut their price target 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. Keefe, Bruyette & Woods cut their price target 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. Finally, 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. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.75.

Wealthfront Company 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.