Kennedy Capital Management LLC Takes $5.21 Million Position in Wealthfront $WLTH

Kennedy Capital Management LLC bought a new stake in shares of Wealthfront (NASDAQ:WLTH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 383,204 shares of the company’s stock, valued at approximately $5,208,000. Kennedy Capital Management LLC owned about 0.26% of Wealthfront as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $136,000. Realta Investment Advisors purchased a new stake in shares of Wealthfront in the fourth quarter valued at approximately $194,000. Hudson Bay Capital Management LP purchased a new stake in shares of Wealthfront in the fourth quarter valued at approximately $245,000. Gabelli Funds LLC purchased a new stake in shares of Wealthfront in the fourth quarter valued at approximately $264,000. Finally, Cohen & Steers Inc. purchased a new stake in shares of Wealthfront in the fourth quarter valued at approximately $272,000.

Wealthfront Stock Down 1.8%

Wealthfront stock opened at $8.80 on Tuesday. The business’s fifty day moving average is $10.82. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its 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 business had revenue of $90.48 million during the quarter. The company’s revenue was up 7.1% on a year-over-year basis. Analysts anticipate that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WLTH shares. Keefe, Bruyette & Woods lowered their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Friday, June 5th. Royal Bank Of Canada lowered their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, June 5th. 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, March 12th. Wells Fargo & Company boosted their price target on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. lowered their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Four investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus 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.