Kal Iyer Sells 33,583 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 33,583 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total value of $360,345.59. Following the completion of the transaction, the vice president owned 269,640 shares in the company, valued at $2,893,237.20. This trade represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kal Iyer also recently made the following trade(s):

• On Wednesday, September 16th, Kal Iyer sold 10,408 shares of Wealthfront stock. The shares were sold at an average price of $10.19, for a total value of $106,057.52.

Wealthfront Stock Performance

Wealthfront stock traded down $0.05 during mid-day trading on Thursday, reaching $10.12. 3,124,872 shares of the company were exchanged, compared to its average volume of 1,606,351. The firm’s 50-day simple moving average is $9.46 and its two-hundred day simple moving average is $9.69. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The firm has a market cap of $1.58 billion and a PE ratio of -10.88.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The business had revenue of $91.87 million for the quarter. Wealthfront’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Wealthfront will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada cut their price objective on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. Wells Fargo & Company lowered their target price on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 price target on shares of Wealthfront in a report on Thursday, September 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Monday, July 13th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada purchased a new stake in shares of Wealthfront during the 1st quarter worth $27,000. Strs Ohio purchased a new position in shares of Wealthfront in the 1st quarter valued at about $56,000. Squarepoint Ops LLC purchased a new position in shares of Wealthfront in the 2nd quarter valued at about $90,000. Arizona State Retirement System acquired a new stake in shares of Wealthfront in the second quarter valued at about $102,000. Finally, AXQ Capital LP acquired a new stake in shares of Wealthfront in the second quarter valued at about $105,000.

About Wealthfront

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.