Wealthfront (NASDAQ:WLTH) Director Sells 8,503 Shares

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,503 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $9.50, for a total value of $80,778.50. Following the completion of the sale, the director owned 8,503 shares in the company, valued at $80,778.50. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jaleh Bisharat also recently made the following trade(s):

• On Monday, July 6th, Jaleh Bisharat sold 8,504 shares of Wealthfront stock. The stock was sold at an average price of $9.39, for a total value of $79,852.56.

Wealthfront Stock Performance

WLTH stock traded down $0.48 during trading on Wednesday, hitting $8.99. The stock had a trading volume of 1,952,874 shares, compared to its average volume of 1,615,483. The company has a market capitalization of $1.34 billion and a PE ratio of -8.73. The company has a 50 day moving average price of $10.28. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million for the quarter. The company’s revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Wealthfront will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen downgraded Wealthfront from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Royal Bank Of Canada lowered their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Keefe, Bruyette & Woods dropped their target price on Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Friday, June 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Four investment 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, Wealthfront currently has a consensus rating of “Hold” and a consensus price target of $12.58.

Institutional Trading of Wealthfront

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Wealthfront by 1,461.0% during the 1st quarter. Bank of America Corp DE now owns 743,163 shares of the company’s stock worth $6,874,000 after buying an additional 695,555 shares during the last quarter. Stoic Point Capital Management LLC purchased a new stake in Wealthfront during the first quarter valued at about $1,679,000. Royal Bank of Canada acquired a new stake in Wealthfront during the first quarter worth about $27,000. Southpoint Capital Advisors LP purchased a new position in shares of Wealthfront in the 1st quarter worth about $12,950,000. Finally, SummitTX Capital L.P. purchased a new position in shares of Wealthfront in the 1st quarter worth about $131,000.

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.