Index Venture Associates VI Ltd Buys Shares of 9,460,434 Wealthfront $WLTH

Index Venture Associates VI Ltd bought a new stake in Wealthfront (NASDAQ:WLTH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,460,434 shares of the company’s stock, valued at approximately $128,567,000. Wealthfront makes up approximately 3.6% of Index Venture Associates VI Ltd’s investment portfolio, making the stock its 3rd biggest holding. Index Venture Associates VI Ltd owned approximately 0.06% of Wealthfront at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cohen & Steers Inc. purchased a new position in Wealthfront in the fourth quarter valued at about $272,000. Jane Street Group LLC purchased a new position in Wealthfront in the fourth quarter valued at about $10,994,000. HRT Financial LP purchased a new position in Wealthfront in the fourth quarter valued at about $971,000. Federated Hermes Inc. purchased a new position in Wealthfront in the fourth quarter valued at about $1,144,000. Finally, Monashee Investment Management LLC purchased a new position in Wealthfront in the fourth quarter valued at about $4,077,000.

Wealthfront Stock Up 1.6%

Shares of NASDAQ:WLTH opened at $8.96 on Friday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The business has a 50-day moving average of $10.84.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data 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 company had revenue of $90.48 million during the quarter. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Wealthfront will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WLTH has been the subject of a number of analyst reports. Weiss Ratings initiated coverage on Wealthfront in a research report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. JPMorgan Chase & Co. reduced their price target on Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group reduced 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 reduced their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Friday, June 5th. Finally, Royal Bank Of Canada reduced their price target on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.