Azora Capital LP Makes New $4.08 Million Investment in Wealthfront $WLTH

Azora Capital LP acquired a new position in shares of Wealthfront (NASDAQ:WLTH) in the fourth quarter, Holdings Channel.com reports. The firm acquired 300,518 shares of the company’s stock, valued at approximately $4,084,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Sandia Investment Management LP acquired a new position in Wealthfront during the fourth quarter worth $44,000. Barclays PLC acquired a new position in Wealthfront during the fourth quarter worth $136,000. Realta Investment Advisors acquired a new position in Wealthfront during the fourth quarter worth $194,000. Hudson Bay Capital Management LP acquired a new position in Wealthfront during the fourth quarter worth $245,000. Finally, Gabelli Funds LLC acquired a new position in Wealthfront during the fourth quarter worth $264,000.

Insider Activity at Wealthfront

In other news, VP Kal Iyer sold 45,772 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $8.92, for a total value of $408,286.24. Following the completion of the sale, the vice president directly owned 254,269 shares in the company, valued at $2,268,079.48. This represents a 15.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. 27.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on WLTH shares. Keefe, Bruyette & Woods reduced their price objective on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group reduced their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Citizens Jmp reduced 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 report on Monday, March 16th. Royal Bank Of Canada reduced their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Finally, Weiss Ratings started coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Wealthfront has an average rating of “Hold” and an average price target of $12.75.

Wealthfront Stock Down 0.1%

Shares of NASDAQ WLTH opened at $8.43 on Thursday. The firm has a 50-day simple moving average of $10.78. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its 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. Wealthfront’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that Wealthfront will post 0.42 EPS for the current fiscal year.

About Wealthfront

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.