Wealthfront (NASDAQ:WLTH) VP Kal Iyer Sells 33,583 Shares

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 33,583 shares of Wealthfront stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total transaction of $360,345.59. Following the sale, the vice president owned 269,640 shares of the company’s stock, valued at approximately $2,893,237.20. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kal Iyer also recently made the following trade(s):

• On Wednesday, September 16th, Kal Iyer sold 10,408 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total value of $106,057.52.

Wealthfront Stock Down 0.5%

NASDAQ WLTH traded down $0.05 during mid-day trading on Thursday, hitting $10.12. The stock had a trading volume of 3,124,872 shares, compared to its average volume of 1,606,351. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The company has a market cap of $1.58 billion and a price-to-earnings ratio of -10.88. The company has a 50 day simple moving average of $9.46 and a 200 day simple moving average of $9.69.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $91.87 million during the quarter. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that Wealthfront will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on WLTH shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.00 price objective on shares of Wealthfront in a research report on Thursday, September 10th. Royal Bank Of Canada lowered their price target on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. Keefe, Bruyette & Woods cut their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Monday, July 13th. Finally, Wells Fargo & Company reduced their target price on Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Wealthfront presently has a consensus rating of “Hold” and an average price target of $12.00.

Institutional Trading of Wealthfront

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in Wealthfront in the 1st quarter valued at about $27,000. Strs Ohio acquired a new stake in shares of Wealthfront during the 1st quarter worth about $56,000. Squarepoint Ops LLC acquired a new stake in shares of Wealthfront during the 2nd quarter worth about $90,000. Arizona State Retirement System purchased a new stake in shares of Wealthfront during the second quarter worth about $102,000. Finally, AXQ Capital LP purchased a new stake in shares of Wealthfront during the second quarter worth about $105,000.

About Wealthfront

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.