Wealthfront (NASDAQ:WLTH) Upgraded to Hold at Wall Street Zen

Wealthfront (NASDAQ:WLTH) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

WLTH has been the subject of a number of other research reports. Keefe, Bruyette & Woods cut their price target on Wealthfront from $11.00 to $10.50 and set a “market perform” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group lowered their price objective on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Wells Fargo & Company dropped their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. decreased their target price on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Wealthfront Trading Down 2.0%

Shares of NASDAQ WLTH opened at $9.26 on Friday. The stock has a fifty day moving average price of $10.00. The stock has a market capitalization of $1.38 billion and a PE ratio of -8.99. Wealthfront has a 1 year low of $7.20 and a 1 year 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 the consensus estimate of $0.09 by ($0.02). The firm had revenue of $90.48 million for the quarter. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Wealthfront

In other Wealthfront news, insider Lauren Lin sold 4,840 shares of Wealthfront stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the sale, the insider directly owned 158,092 shares in the company, valued at approximately $1,335,877.40. The trade was a 2.97% decrease in their position. The sale 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 on Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $336,792.60. Following the completion of the sale, the chief technology officer owned 727,052 shares in the company, valued at approximately $6,150,859.92. The trade was a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,565 shares of company stock worth $1,193,520 in the last three months. Insiders own 27.36% of the company’s stock.

Institutional Investors Weigh In On Wealthfront

Several large investors have recently made changes to their positions in the company. Tiger Global Management LLC purchased a new stake in shares of Wealthfront in the fourth quarter worth about $205,982,000. Dag Ventures LLC bought a new position in Wealthfront during the fourth quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd purchased a new position in Wealthfront during the 4th quarter valued at approximately $128,567,000. Wellington Management Group LLP purchased a new position in Wealthfront during the 4th quarter valued at approximately $54,182,000. Finally, North Reef Capital Management LP increased its stake in Wealthfront by 135.2% in the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after acquiring an additional 1,658,624 shares during the last quarter.

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.