Wealthfront (NASDAQ:WLTH) VP Sells 28,498 Shares of Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 28,498 shares of Wealthfront stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $241,093.08. Following the completion of the transaction, the vice president directly owned 225,771 shares in the company, valued at approximately $1,910,022.66. The trade was a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kal Iyer also recently made the following trade(s):

• On Monday, June 15th, Kal Iyer sold 45,772 shares of Wealthfront stock. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24.

Wealthfront Stock Down 2.6%

WLTH traded down $0.22 during trading on Monday, hitting $8.22. The stock had a trading volume of 1,857,562 shares, compared to its average volume of 1,593,316. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The business’s 50 day simple moving average is $10.72.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million for the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Wealthfront will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company upped 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. Royal Bank Of Canada lowered their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. JPMorgan Chase & Co. dropped their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Weiss Ratings assumed coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Finally, Citizens Jmp lowered their target price 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. 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. According to data from MarketBeat, Wealthfront presently has a consensus rating of “Hold” and a consensus price target of $12.75.

Institutional Trading of Wealthfront

Institutional investors and hedge funds have recently bought and sold shares of the business. Tiger Global Management LLC purchased a new stake in shares of Wealthfront in the 4th quarter valued at $205,982,000. Dag Ventures LLC purchased a new position in shares of Wealthfront during the fourth quarter worth $187,725,000. Index Venture Associates VI Ltd purchased a new position in shares of Wealthfront during the fourth quarter worth $128,567,000. Wellington Management Group LLP acquired a new position in Wealthfront during the fourth quarter valued at $54,182,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Wealthfront in the fourth quarter valued at $31,136,000.

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.