Wealthfront (NASDAQ:WLTH) Given Consensus Recommendation of “Hold” by Brokerages

Wealthfront (NASDAQ:WLTH) has been assigned an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.4167.

Several brokerages have issued reports on WLTH. The Goldman Sachs Group lowered their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Wells Fargo & Company cut their price objective on Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Keefe, Bruyette & Woods lowered their target price on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research note on Monday, July 13th. Finally, Royal Bank Of Canada dropped their target price on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, June 5th.

Insider Transactions at Wealthfront

In related news, Director Jaleh Bisharat sold 8,503 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $9.50, for a total transaction of $80,778.50. Following the completion of the transaction, the director owned 8,503 shares in the company, valued at approximately $80,778.50. This 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. Also, insider Lauren Lin sold 4,840 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the transaction, the insider owned 158,092 shares of the company’s stock, valued at $1,335,877.40. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 136,565 shares of company stock worth $1,193,520 in the last 90 days. 27.36% of the stock is owned by corporate insiders.

Institutional Trading of Wealthfront

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

Wealthfront Stock Performance

Shares of NASDAQ WLTH opened at $9.70 on Friday. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The stock has a market cap of $1.45 billion and a P/E ratio of -9.42. The firm has a 50 day moving average price of $9.31 and a 200 day moving average price of $9.49.

Wealthfront (NASDAQ:WLTH) last posted its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business 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. Analysts predict that Wealthfront will post 0.42 earnings per share for the current fiscal year.

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.