Keefe, Bruyette & Woods Issues Pessimistic Forecast for Wealthfront (NASDAQ:WLTH) Stock Price

Wealthfront (NASDAQ:WLTH) had its price objective reduced by equities research analysts at Keefe, Bruyette & Woods from $11.00 to $10.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 11.29% from the company’s previous close.

WLTH has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Citizens Jmp lowered their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, March 16th. Wall Street Zen cut Wealthfront from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, The Goldman Sachs Group cut their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Four equities 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 has an average rating of “Hold” and a consensus price target of $12.50.

Wealthfront Trading Up 0.9%

Shares of NASDAQ:WLTH opened at $9.44 on Monday. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The company has a fifty day moving average of $10.19. The stock has a market cap of $1.41 billion and a PE ratio of -9.09.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.07 earnings per share (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 business’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Wealthfront will post 0.42 EPS for the current year.

Insider Activity at Wealthfront

In related news, CTO Julien Wetterwald sold 39,810 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total value of $336,792.60. Following the sale, the chief technology officer directly owned 727,052 shares in the company, valued at $6,150,859.92. The trade was a 5.19% decrease in their position. The transaction 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. Also, insider Lauren Lin sold 4,840 shares of Wealthfront stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last 90 days. Insiders own 27.36% of the company’s stock.

Institutional Trading of Wealthfront

Institutional investors have recently added to or reduced their stakes in the business. Tiger Global Management LLC purchased a new position in Wealthfront in the fourth quarter valued at about $205,982,000. Dag Ventures LLC purchased a new stake in shares of Wealthfront during the 4th quarter valued at about $187,725,000. Index Venture Associates VI Ltd acquired a new position in Wealthfront during the 4th quarter worth approximately $128,567,000. Wellington Management Group LLP acquired a new stake in Wealthfront in the fourth quarter valued at approximately $54,182,000. Finally, North Reef Capital Management LP lifted its position in shares of Wealthfront by 135.2% during the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after purchasing an additional 1,658,624 shares in the last quarter.

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.