Index Venture Associates VI Ltd Invests $128.57 Million in Wealthfront $WLTH

Index Venture Associates VI Ltd acquired a new position in Wealthfront (NASDAQ:WLTH) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,460,434 shares of the company’s stock, valued at approximately $128,567,000. Wealthfront makes up 3.6% of Index Venture Associates VI Ltd’s holdings, making the stock its 3rd largest holding. Index Venture Associates VI Ltd owned approximately 6.30% of Wealthfront at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Realta Investment Advisors acquired a new position in shares of Wealthfront in the 4th quarter worth $194,000. Gabelli Funds LLC acquired a new position in shares of Wealthfront in the 4th quarter worth $264,000. Cohen & Steers Inc. acquired a new position in shares of Wealthfront in the 4th quarter worth $272,000. Wealthfront Advisers LLC acquired a new position in shares of Wealthfront in the 4th quarter worth $326,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Wealthfront in the 4th quarter worth $453,000.

Wealthfront Trading Up 1.6%

Shares of WLTH stock opened at $8.96 on Friday. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88. The company’s fifty day simple moving average is $10.84.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The company’s revenue 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 year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WLTH shares. Royal Bank Of Canada decreased their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Citizens Jmp lowered their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, March 16th. Keefe, Bruyette & Woods lowered their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Friday, June 5th. Finally, The Goldman Sachs Group lowered their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, March 12th. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.75.

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.