Seven Grand Managers LLC Acquires Shares of 150,000 Wealthfront $WLTH

Seven Grand Managers LLC acquired a new stake in Wealthfront (NASDAQ:WLTH) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 150,000 shares of the company’s stock, valued at approximately $2,038,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dag Ventures LLC purchased a new position in Wealthfront in the fourth quarter valued at $187,725,000. Jennison Associates LLC purchased a new position in Wealthfront in the fourth quarter valued at $4,396,000. Teacher Retirement System of Texas purchased a new position in Wealthfront in the fourth quarter valued at $2,310,000. UBS Group AG purchased a new position in Wealthfront in the fourth quarter valued at $2,243,000. Finally, Geode Capital Management LLC purchased a new position in Wealthfront in the fourth quarter valued at $1,749,000.

Analysts Set New Price Targets

A number of research firms have weighed in on WLTH. Weiss Ratings began coverage on shares of Wealthfront in a report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. The Goldman Sachs Group cut their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, March 12th. Royal Bank Of Canada cut their target price on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Citizens Jmp cut their target price 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. Finally, Wells Fargo & Company boosted their target price 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. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.33.

Wealthfront Price Performance

WLTH stock opened at $11.98 on Thursday. The stock’s 50-day moving average is $10.37. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Wednesday, March 11th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The firm had revenue of $96.14 million for the quarter, compared to analyst estimates of $91.95 million. As a group, equities analysts anticipate that Wealthfront will post 0.46 EPS for the current fiscal year.

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.