Wealthfront (NASDAQ:WLTH) Receives $12.50 Average PT from Brokerages

Wealthfront (NASDAQ:WLTH) has received an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.50.

A number of equities research analysts have weighed in on WLTH shares. Wells Fargo & Company lowered their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Royal Bank Of Canada cut their target price on 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 reduced their price target on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a report on Monday, July 13th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th.

Insider Activity at Wealthfront

In related news, insider Lauren Lin sold 4,840 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the completion of the sale, the insider owned 158,092 shares in the company, valued at $1,335,877.40. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jaleh Bisharat sold 8,503 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total transaction of $80,778.50. Following the sale, the director directly owned 8,503 shares in the company, valued at approximately $80,778.50. This represents a 50.00% 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. Insiders have sold a total of 136,565 shares of company stock valued at $1,193,520 over the last 90 days. Company insiders own 27.36% of the company’s stock.

Institutional Investors Weigh In On Wealthfront

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada acquired a new stake in shares of Wealthfront in the 1st quarter worth approximately $27,000. Sandia Investment Management LP acquired a new position in Wealthfront during the fourth quarter worth $44,000. Strs Ohio acquired a new position in Wealthfront during the first quarter worth $56,000. SummitTX Capital L.P. purchased a new stake in Wealthfront during the first quarter worth $131,000. Finally, Barclays PLC purchased a new stake in Wealthfront during the fourth quarter worth $136,000.

Wealthfront Price Performance

WLTH stock opened at $9.26 on Wednesday. The firm has a market cap of $1.38 billion and a PE ratio of -8.99. The stock has a fifty day moving average price of $10.00. Wealthfront has a one year low of $7.20 and a one 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million for the quarter. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Wealthfront will post 0.42 earnings per share for the current 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.