Julien Wetterwald Sells 39,810 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) CTO Julien Wetterwald sold 39,810 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total value of $336,792.60. Following the transaction, the chief technology officer directly owned 727,052 shares in the company, valued at $6,150,859.92. This represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Stock Performance

WLTH traded down $0.22 during trading hours on Monday, hitting $8.22. The stock had a trading volume of 1,857,562 shares, compared to its average volume of 1,593,316. The firm’s fifty day simple moving average is $10.72. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88.

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

Analysts Set New Price Targets

WLTH has been the topic of a number of recent research reports. Citizens Jmp dropped their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th. 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 note on Friday, June 5th. Wells Fargo & Company boosted their target price on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Royal Bank Of Canada cut their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, Weiss Ratings began coverage on 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.75.

Hedge Funds Weigh In On Wealthfront

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

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.