Wealthfront (NASDAQ:WLTH) Receives $12.75 Average Price Target from Analysts

Wealthfront (NASDAQ:WLTH) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $12.75.

Several equities research analysts have recently commented on WLTH shares. Weiss Ratings initiated coverage on Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Citizens Jmp decreased 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 cut their target price 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. 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 report on Friday, June 5th. Finally, Wells Fargo & Company upped their target price on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 4th.

Key Stories Impacting Wealthfront

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Wealthfront launched a new Custodial Account and is offering $100 in seed funding for qualifying new accounts, expanding its family wealth management platform and potentially adding a new source of client growth. Wealthfront Launches Tax-Efficient Custodial Account with $100 Seed Funding, Expands Family Wealth Management Offering
• Positive Sentiment: The company also highlighted a new way to help parents invest for children’s futures with automated investing and tax-efficient features, which supports Wealthfront’s strategy to broaden its product set beyond core investing accounts. Wealthfront Launches Investing Accounts for Kids Who Want to Build Wealth Early
• Neutral Sentiment: Wealthfront stockholders elected directors and ratified the company’s auditor at the annual meeting, which is a routine corporate update and is not likely to materially change the investment outlook. Wealthfront Stockholders Elect Directors and Ratify Auditor
• Negative Sentiment: Multiple insider sales have weighed on sentiment, including recent filings from senior executives, which can signal that management sees limited near-term upside. Wealthfront Insider Trading Activity | NASDAQ:WLTH | Benzinga
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Wealthfront investors, adding legal overhang and uncertainty that may pressure the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wealthfront Corporation – WLTH

Insider Activity

In other Wealthfront news, VP Kal Iyer sold 28,498 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total value of $241,093.08. Following the sale, the vice president owned 225,771 shares in the company, valued at approximately $1,910,022.66. The trade was a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Julien Wetterwald sold 39,810 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total value of $336,792.60. Following the completion of the sale, the chief technology officer owned 727,052 shares in the company, valued at $6,150,859.92. The trade was a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 119,558 shares of company stock worth $1,032,888 over the last three months. Corporate insiders own 27.36% of the company’s stock.

Institutional Trading of Wealthfront

Several institutional investors and hedge funds have recently bought and sold shares of WLTH. Realta Investment Advisors bought a new stake in Wealthfront during the fourth quarter worth about $194,000. Teacher Retirement System of Texas bought a new stake in Wealthfront during the fourth quarter worth about $2,310,000. Teachers Retirement System of The State of Kentucky bought a new stake in Wealthfront during the fourth quarter worth about $453,000. UBS Group AG bought a new stake in Wealthfront during the fourth quarter worth about $2,243,000. Finally, Wealthfront Advisers LLC bought a new stake in Wealthfront during the fourth quarter worth about $326,000.

Wealthfront Trading Down 1.7%

Shares of WLTH stock opened at $8.07 on Friday. The business’s fifty day simple moving average is $10.60. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $90.48 million during the quarter. Wealthfront’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Wealthfront will post 0.42 EPS for the current 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.