Wealthfront (NASDAQ:WLTH) Director Sells $80,778.50 in Stock

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,503 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total transaction of $80,778.50. Following the sale, the director directly owned 8,503 shares of the company’s stock, valued at approximately $80,778.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jaleh Bisharat also recently made the following trade(s):

• On Monday, July 6th, Jaleh Bisharat sold 8,504 shares of Wealthfront stock. The stock was sold at an average price of $9.39, for a total value of $79,852.56.

Wealthfront Stock Down 5.1%

Shares of NASDAQ WLTH traded down $0.48 during trading on Wednesday, reaching $8.99. 1,952,874 shares of the stock were exchanged, compared to its average volume of 1,615,483. The company has a market cap of $1.34 billion and a P/E ratio of -8.73. The business’s 50-day moving average price is $10.28. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its quarterly 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 company had revenue of $90.48 million during the quarter. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Wealthfront will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Wealthfront

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in Wealthfront during the first quarter valued at $27,000. Sandia Investment Management LP bought a new position in shares of Wealthfront in the 4th quarter worth about $44,000. Strs Ohio acquired a new position in shares of Wealthfront in the 1st quarter valued at about $56,000. Barclays PLC acquired a new position in shares of Wealthfront in the 4th quarter valued at about $136,000. Finally, Symmetry Investments LP bought a new stake in shares of Wealthfront during the 4th quarter valued at about $190,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WLTH. The Goldman Sachs Group decreased their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Wells Fargo & Company decreased their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of Wealthfront from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Royal Bank Of Canada cut their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Wealthfront presently has a consensus rating of “Hold” and an average price target of $12.58.

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.