300,518 Shares in Wealthfront $WLTH Acquired by Azora Capital LP

Azora Capital LP acquired a new position in shares of Wealthfront (NASDAQ:WLTH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 300,518 shares of the company’s stock, valued at approximately $4,084,000. Azora Capital LP owned approximately 0.20% of Wealthfront as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Sandia Investment Management LP bought a new position in shares of Wealthfront during the 4th quarter worth approximately $44,000. Barclays PLC bought a new position in shares of Wealthfront during the 4th quarter worth approximately $136,000. Realta Investment Advisors bought a new position in shares of Wealthfront during the 4th quarter worth approximately $194,000. Hudson Bay Capital Management LP bought a new position in shares of Wealthfront during the 4th quarter worth approximately $245,000. Finally, Gabelli Funds LLC bought a new position in shares of Wealthfront during the 4th quarter worth approximately $264,000.

Insider Transactions at Wealthfront

In related news, VP Kal Iyer sold 45,772 shares of the 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 sale, the vice president directly owned 254,269 shares of the company’s stock, valued at approximately $2,268,079.48. This represents a 15.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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. Company insiders own 27.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WLTH. Weiss Ratings began coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They set a “sell (d)” rating for the company. JPMorgan Chase & Co. reduced their price objective 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. Wells Fargo & Company boosted their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods reduced their price objective on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Friday, June 5th. Finally, Citizens Jmp cut their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.75.

Wealthfront Trading Down 0.1%

Shares of NASDAQ WLTH opened at $8.43 on Thursday. The business’s fifty day moving average price is $10.78. Wealthfront has a 1 year low of $7.20 and a 1 year 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 (EPS) 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 company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that Wealthfront will post 0.42 EPS for the current year.

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.