Wealthfront (NASDAQ:WLTH) Insider Lauren Lin Sells 4,840 Shares of Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 4,840 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total value of $40,898.00. Following the sale, the insider owned 158,092 shares of the company’s stock, valued at $1,335,877.40. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Stock Performance

NASDAQ WLTH opened at $8.22 on Tuesday. The business has a 50 day simple moving average of $10.69. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its quarterly 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 during the quarter. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Wealthfront will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Wealthfront

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Realta Investment Advisors bought a new stake in shares of Wealthfront in the 4th quarter valued at approximately $194,000. Teacher Retirement System of Texas purchased a new stake in Wealthfront during the 4th quarter valued at $2,310,000. Teachers Retirement System of The State of Kentucky bought a new stake in Wealthfront in the fourth quarter worth $453,000. UBS Group AG purchased a new position in Wealthfront during the fourth quarter worth $2,243,000. Finally, Wealthfront Advisers LLC purchased a new position in Wealthfront during the fourth quarter worth $326,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WLTH. JPMorgan Chase & Co. decreased their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Wells Fargo & Company raised their price objective on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. The Goldman Sachs Group reduced their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Keefe, Bruyette & Woods decreased their target price on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Finally, Citizens Jmp dropped their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, March 16th. Four 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. According to data from MarketBeat.com, the stock 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.