Wealthfront (NASDAQ:WLTH) Receives Average Rating of “Hold” from Analysts

Shares of Wealthfront (NASDAQ:WLTH) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.4167.

Several equities analysts recently issued reports on WLTH shares. JPMorgan Chase & Co. cut their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Keefe, Bruyette & Woods decreased their price objective on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Wells Fargo & Company cut their target price on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th.

Wealthfront Price Performance

WLTH opened at $9.70 on Friday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The firm’s fifty day moving average price is $9.31 and its two-hundred day moving average price is $9.49. The company has a market capitalization of $1.45 billion and a P/E ratio of -9.42.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings data 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 firm had revenue of $90.48 million during the quarter. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Wealthfront will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lauren Lin sold 4,840 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, 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 SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jaleh Bisharat sold 8,504 shares of Wealthfront stock in a transaction on Monday, July 6th. The shares were sold at an average price of $9.39, for a total value of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares of the company’s stock, valued at $79,843.17. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 136,565 shares of company stock worth $1,193,520. 27.36% of the stock is owned by company insiders.

Institutional Trading of Wealthfront

Several institutional investors and hedge funds have recently made changes to their positions in WLTH. Royal Bank of Canada bought a new position in shares of Wealthfront in the 1st quarter worth $27,000. Sandia Investment Management LP bought a new stake in Wealthfront in the fourth quarter valued at about $44,000. Strs Ohio acquired a new position in Wealthfront in the first quarter valued at about $56,000. SummitTX Capital L.P. acquired a new position in Wealthfront in the first quarter valued at about $131,000. Finally, Barclays PLC bought a new position in Wealthfront during the fourth quarter worth about $136,000.

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.