Wealthfront (NASDAQ:WLTH) CTO Julien Wetterwald Sells 39,810 Shares of Stock

Wealthfront (NASDAQ:WLTH) CTO Julien Wetterwald sold 39,810 shares of Wealthfront stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total transaction of $336,792.60. Following the completion of the transaction, the chief technology officer owned 727,052 shares in the company, valued at approximately $6,150,859.92. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Price Performance

NASDAQ WLTH opened at $8.22 on Tuesday. The business’s 50-day moving average price is $10.69. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) 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 business’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Wealthfront will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Wealthfront

Large investors have recently modified their holdings of the stock. Jennison Associates LLC bought a new position in Wealthfront during the fourth quarter valued at about $4,396,000. Teacher Retirement System of Texas acquired a new position in Wealthfront during the fourth quarter worth $2,310,000. Index Venture Associates VI Ltd acquired a new stake in shares of Wealthfront during the 4th quarter worth about $128,567,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront during the fourth quarter worth approximately $187,725,000. Finally, Azora Capital LP acquired a new stake in Wealthfront during the 4th quarter valued at $4,084,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Keefe, Bruyette & Woods cut 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. JPMorgan Chase & Co. cut their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company increased their target price on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada cut their price target 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. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.