Kennedy Capital Management LLC Takes $5.21 Million Position in Wealthfront $WLTH

Kennedy Capital Management LLC acquired a new stake in shares of Wealthfront (NASDAQ:WLTH) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 383,204 shares of the company’s stock, valued at approximately $5,208,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC purchased a new stake in shares of Wealthfront during the 4th quarter valued at $136,000. Realta Investment Advisors purchased a new stake in shares of Wealthfront during the 4th quarter valued at $194,000. Hudson Bay Capital Management LP purchased a new position in Wealthfront in the 4th quarter worth $245,000. Gabelli Funds LLC purchased a new position in Wealthfront in the 4th quarter worth $264,000. Finally, Cohen & Steers Inc. purchased a new position in Wealthfront in the 4th quarter worth $272,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WLTH. Weiss Ratings began coverage on Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Citizens Jmp reduced their target price on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, March 16th. Keefe, Bruyette & Woods reduced their target price on Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company raised their target price on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada reduced 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. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.75.

Wealthfront Stock Performance

Shares of WLTH opened at $8.80 on Tuesday. The stock’s 50-day moving average is $10.82. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88.

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

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.