Gabelli Funds LLC Acquires 91,301 Shares of Wealthfront $WLTH

Gabelli Funds LLC grew its holdings in Wealthfront (NASDAQ:WLTH) by 470.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,701 shares of the company’s stock after buying an additional 91,301 shares during the quarter. Gabelli Funds LLC owned approximately 0.07% of Wealthfront worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WLTH. Sandia Investment Management LP bought a new stake in Wealthfront during the 4th quarter worth about $44,000. Strs Ohio bought a new position in shares of Wealthfront in the first quarter worth about $56,000. Barclays PLC acquired a new position in shares of Wealthfront during the fourth quarter worth approximately $136,000. Symmetry Investments LP acquired a new position in shares of Wealthfront during the fourth quarter worth approximately $190,000. Finally, Realta Investment Advisors bought a new stake in shares of Wealthfront during the fourth quarter valued at approximately $194,000.

Insider Buying and Selling at Wealthfront

In other Wealthfront news, VP Kal Iyer sold 45,772 shares of Wealthfront stock in a transaction on Monday, June 15th. The shares were sold at an average price of $8.92, for a total transaction of $408,286.24. Following the completion of the sale, the vice president owned 254,269 shares of the company’s stock, valued at approximately $2,268,079.48. The trade was a 15.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lauren Lin sold 4,840 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were 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 $1,335,877.40. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 136,565 shares of company stock valued at $1,193,520 in the last three months. Insiders own 27.36% of the company’s stock.

Wealthfront Stock Up 2.3%

Shares of NASDAQ WLTH opened at $9.46 on Friday. The company has a market cap of $1.41 billion and a price-to-earnings ratio of -9.18. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The company has a 50-day simple moving average of $9.58.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WLTH. Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Keefe, Bruyette & Woods decreased their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research report on Monday, July 13th. Royal Bank Of Canada lowered 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. Finally, Wells Fargo & Company dropped their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wealthfront has an average rating of “Hold” and a consensus price target of $12.50.

Wealthfront 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.