Lauren Lin Sells 4,840 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 4,840 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the transaction, the insider directly owned 158,092 shares of the company’s stock, valued at approximately $1,335,877.40. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Price Performance

Shares of Wealthfront stock opened at $8.21 on Wednesday. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The stock’s 50 day moving average is $10.65.

Wealthfront (NASDAQ:WLTH) last announced its 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 business had revenue of $90.48 million during the quarter. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Wealthfront will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WLTH. Royal Bank of Canada purchased a new stake in Wealthfront in the first quarter valued at approximately $27,000. Sandia Investment Management LP purchased a new position in Wealthfront during the fourth quarter worth approximately $44,000. Strs Ohio purchased a new position in Wealthfront during the first quarter worth approximately $56,000. Barclays PLC acquired a new position in shares of Wealthfront in the 4th quarter valued at $136,000. Finally, Symmetry Investments LP purchased a new stake in shares of Wealthfront during the 4th quarter valued at $190,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WLTH shares. Weiss Ratings initiated coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They set a “sell (d)” rating on the stock. Citizens Jmp decreased their target price on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group lowered their target price 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 reduced their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, Wells Fargo & Company raised their price objective on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.75.

More Wealthfront News

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Wealthfront announced a new Custodial Account aimed at families, expanding its wealth management lineup and potentially broadening its customer base. Wealthfront Launches Tax-Efficient Custodial Account with $100 Seed Funding, Expands Family Wealth Management Offering
• Positive Sentiment: The new account includes automated tax-efficient investing features and a $100 seed-funding promotion, which could help attract new deposits and improve client engagement. Wealthfront Launches Custodial Account to Expand Family Wealth Management Offerings
• Neutral Sentiment: Recent analyst commentary and prior earnings context remain mixed, with the stock already trading below its 50-day moving average after a recent earnings miss.
• Negative Sentiment: Multiple insiders, including the CTO and a VP, sold shares recently; while the trades were made under pre-arranged plans, insider sales can still pressure sentiment. Wealthfront (NASDAQ:WLTH) Insider Sells $40,898.00 in Stock
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Wealthfront investors, adding a legal overhang that may weigh on the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wealthfront Corporation – WLTH

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.