Brokerages Set Wealthfront (NASDAQ:WLTH) Price Target at $12.50

Wealthfront (NASDAQ:WLTH) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.50.

Several analysts have recently issued reports on WLTH shares. Royal Bank Of Canada dropped their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Keefe, Bruyette & Woods decreased their price target on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. JPMorgan Chase & Co. cut their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Finally, The Goldman Sachs Group reduced their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd.

Insider Transactions at Wealthfront

In other Wealthfront news, insider Lauren Lin sold 4,840 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total value of $40,898.00. Following the transaction, the insider owned 158,092 shares in the company, valued at approximately $1,335,877.40. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 28,498 shares of Wealthfront stock in a transaction 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 sale, the vice president directly owned 225,771 shares in the company, valued at approximately $1,910,022.66. This trade represents a 11.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 136,565 shares of company stock valued at $1,193,520. Insiders own 27.36% of the company’s stock.

Institutional Investors Weigh In On Wealthfront

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada purchased a new stake in Wealthfront during the 1st quarter valued at about $27,000. Sandia Investment Management LP purchased a new position in Wealthfront in the 4th quarter worth approximately $44,000. Strs Ohio purchased a new position in Wealthfront in the 1st quarter worth approximately $56,000. Barclays PLC acquired a new position in shares of Wealthfront during the 4th quarter worth approximately $136,000. Finally, Symmetry Investments LP acquired a new position in shares of Wealthfront during the 4th quarter worth approximately $190,000.

Wealthfront Price Performance

Wealthfront stock opened at $9.26 on Wednesday. The company has a fifty day moving average of $10.00. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The firm has a market cap of $1.38 billion and a PE ratio of -8.99.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company 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 predict that Wealthfront will post 0.42 EPS for the current fiscal year.

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.