Wealthfront (NASDAQ:WLTH) VP Kal Iyer Sells 28,498 Shares of Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 28,498 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total transaction of $241,093.08. Following the sale, the vice president owned 225,771 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kal Iyer also recently made the following trade(s):

• On Monday, June 15th, Kal Iyer sold 45,772 shares of Wealthfront stock. The stock was sold at an average price of $8.92, for a total transaction of $408,286.24.

Wealthfront Price Performance

NASDAQ:WLTH opened at $8.22 on Tuesday. The company’s 50 day moving average 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 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 revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Wealthfront will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Wealthfront

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

Wall Street Analyst Weigh In

Several research firms have commented on WLTH. Keefe, Bruyette & Woods lowered 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 note on Friday, June 5th. Wells Fargo & Company lifted their target price on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price target 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. Citizens Jmp dropped their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, March 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.75.

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.