Jennison Associates LLC Buys Shares of 323,476 Wealthfront $WLTH

Jennison Associates LLC bought a new stake in Wealthfront (NASDAQ:WLTH) during the 4th quarter, Holdings Channel reports. The firm bought 323,476 shares of the company’s stock, valued at approximately $4,396,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in Wealthfront in the 4th quarter valued at about $2,310,000. UBS Group AG acquired a new position in Wealthfront in the 4th quarter valued at about $2,243,000. Teachers Retirement System of The State of Kentucky acquired a new position in Wealthfront in the 4th quarter valued at about $453,000. Wealthfront Advisers LLC acquired a new position in Wealthfront in the 4th quarter valued at about $326,000. Finally, Realta Investment Advisors acquired a new position in Wealthfront in the 4th quarter valued at about $194,000.

Analyst Ratings Changes

Several equities analysts have weighed in on WLTH shares. Royal Bank Of Canada decreased their target price on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. KeyCorp assumed coverage on shares of Wealthfront in a report on Tuesday, January 6th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group decreased their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.50 price objective (down from $13.50) on shares of Wealthfront in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.17.

Wealthfront Trading Down 0.0%

Wealthfront stock opened at $10.77 on Monday. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The business’s 50 day simple moving average is $9.28.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($1.31) earnings per share 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. Equities analysts expect that Wealthfront will post 0.46 earnings per share 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.