Wealthfront (NASDAQ:WLTH) VP Kal Iyer Sells 45,772 Shares

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 45,772 shares of Wealthfront stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24. Following the completion of the sale, the vice president directly owned 254,269 shares of the company’s stock, valued at $2,268,079.48. The trade was a 15.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.

Wealthfront Stock Performance

WLTH stock traded down $0.01 during midday trading on Wednesday, hitting $8.43. The stock had a trading volume of 2,816,048 shares, compared to its average volume of 1,575,367. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The business has a 50-day moving average price of $10.80.

Wealthfront (NASDAQ:WLTH) last released its earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million for the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tiger Global Management LLC acquired a new stake in shares of Wealthfront in the fourth quarter worth $205,982,000. Dag Ventures LLC acquired a new position in shares of Wealthfront during the 4th quarter valued at $187,725,000. Index Venture Associates VI Ltd purchased a new stake in Wealthfront during the 4th quarter worth $128,567,000. Wellington Management Group LLP purchased a new stake in Wealthfront during the 4th quarter worth $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Wealthfront in the 4th quarter valued at $31,136,000.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citizens Jmp lowered 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. Wells Fargo & Company lifted 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. Weiss Ratings assumed coverage on Wealthfront in a report on Wednesday, March 11th. They set a “sell (d)” rating for the company. Keefe, Bruyette & Woods cut their target price on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Finally, Royal Bank Of Canada cut their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Four 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.75.

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.