FJ Capital Management LLC Acquires Shares of 314,187 Wealthfront $WLTH

FJ Capital Management LLC acquired a new stake in Wealthfront (NASDAQ:WLTH) in the 4th quarter, Holdings Channel reports. The fund acquired 314,187 shares of the company’s stock, valued at approximately $4,270,000.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in Wealthfront in the fourth quarter valued at $4,396,000. Teacher Retirement System of Texas acquired a new position in Wealthfront in the fourth quarter valued at $2,310,000. Index Venture Associates VI Ltd acquired a new position in Wealthfront in the fourth quarter valued at $128,567,000. Dag Ventures LLC acquired a new position in Wealthfront in the fourth quarter valued at $187,725,000. Finally, Seven Grand Managers LLC acquired a new position in Wealthfront in the fourth quarter valued at $2,038,000.

Wealthfront Price Performance

Shares of Wealthfront stock opened at $8.96 on Friday. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The firm has a 50-day moving average of $10.84.

Wealthfront (NASDAQ:WLTH) last issued its 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 business had revenue of $90.48 million for the quarter. Wealthfront’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Wealthfront will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WLTH shares. JPMorgan Chase & Co. decreased 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. Citizens Jmp decreased 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 note on Monday, March 16th. Wells Fargo & Company upped their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.75.

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.