Wealthfront (NASDAQ:WLTH) Raised to “Hold” at Wall Street Zen

Wealthfront (NASDAQ:WLTH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

WLTH has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Wells Fargo & Company decreased their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. The Goldman Sachs Group lowered their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada cut their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Wealthfront Stock Performance

WLTH opened at $9.26 on Friday. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The business’s fifty day moving average price is $10.00. The firm has a market capitalization of $1.38 billion and a PE ratio of -8.99.

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

Insider Activity at Wealthfront

In other news, Director Jaleh Bisharat sold 8,504 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $9.39, for a total value of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares in the company, valued at $79,843.17. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 4,840 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the completion of the sale, the insider directly owned 158,092 shares of the company’s stock, valued at $1,335,877.40. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,565 shares of company stock worth $1,193,520 over the last three months. 27.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WLTH. Jennison Associates LLC acquired a new position in shares of Wealthfront during the fourth quarter valued at about $4,396,000. Teacher Retirement System of Texas acquired a new stake in shares of Wealthfront in the 4th quarter worth about $2,310,000. Index Venture Associates VI Ltd acquired a new stake in shares of Wealthfront in the 4th quarter worth about $128,567,000. Dag Ventures LLC bought a new position in Wealthfront in the 4th quarter valued at about $187,725,000. Finally, FJ Capital Management LLC bought a new position in Wealthfront in the 4th quarter valued at about $4,270,000.

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.