Wealthfront (NASDAQ:WLTH) Stock Has Consensus Price Target of $12.29 According to Analysts

Shares of Wealthfront (NASDAQ:WLTH) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.29.

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a report on Friday, October 2nd. Keefe, Bruyette & Woods lowered their target price on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group reissued a “neutral” rating and set a $11.00 target price on shares of Wealthfront in a research note on Wednesday, October 7th. Royal Bank Of Canada decreased their price objective on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Wealthfront in a research report on Wednesday, October 7th.

Insider Buying and Selling at Wealthfront

In other news, Director Kenneth Goldman sold 10,000 shares of Wealthfront stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the director owned 49,655 shares of the company’s stock, valued at approximately $496,550. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 16,117 shares of Wealthfront stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total transaction of $172,935.41. Following the sale, the insider directly owned 181,385 shares of the company’s stock, valued at $1,946,261.05. This represents a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 270,688 shares of company stock valued at $2,796,816. 27.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Wealthfront in the 2nd quarter worth about $74,766,000. Renaissance Technologies LLC acquired a new stake in shares of Wealthfront during the first quarter worth $1,622,000. Bank of America Corp DE raised its position in shares of Wealthfront by 1,461.0% in the 1st quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock worth $6,874,000 after acquiring an additional 695,555 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in Wealthfront in the first quarter valued at approximately $12,950,000. Finally, PEAK6 LLC bought a new position in Wealthfront during the second quarter worth $2,012,000.

Wealthfront Price Performance

Shares of NASDAQ:WLTH opened at $11.20 on Friday. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The business has a 50 day simple moving average of $10.01 and a two-hundred day simple moving average of $10.03. The firm has a market capitalization of $1.75 billion and a PE ratio of -12.04.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%. The firm had revenue of $91.87 million for the quarter. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Wealthfront will post 0.37 EPS for the current fiscal year.

Wealthfront Company Profile

Wealthfront, Inc (NASDAQ:WLTH) is a digital wealth management and financial services company that provides automated investing, cash management and financial planning tools through an online platform. Its services are designed to help individuals manage savings and investments with limited reliance on traditional in-person financial advisers.

The company’s investment offerings include diversified, professionally managed portfolios, automated portfolio rebalancing and tax-focused features such as tax-loss harvesting and direct indexing, where available.