Julien Wetterwald Sells 39,810 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) CTO Julien Wetterwald sold 39,810 shares of Wealthfront stock in a transaction dated 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 directly owned 727,052 shares in the company, valued at approximately $6,150,859.92. This represents a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Trading Down 0.1%

NASDAQ:WLTH opened at $8.21 on Wednesday. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The business’s 50 day moving average is $10.65.

Wealthfront (NASDAQ:WLTH) last released 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 company had revenue of $90.48 million for the quarter. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Wealthfront will post 0.42 EPS for the current fiscal year.

Trending Headlines about Wealthfront

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Wealthfront announced a new Custodial Account aimed at families, expanding its wealth management lineup and potentially broadening its customer base. Wealthfront Launches Tax-Efficient Custodial Account with $100 Seed Funding, Expands Family Wealth Management Offering
• Positive Sentiment: The new account includes automated tax-efficient investing features and a $100 seed-funding promotion, which could help attract new deposits and improve client engagement. Wealthfront Launches Custodial Account to Expand Family Wealth Management Offerings
• Neutral Sentiment: Recent analyst commentary and prior earnings context remain mixed, with the stock already trading below its 50-day moving average after a recent earnings miss.
• Negative Sentiment: Multiple insiders, including the CTO and a VP, sold shares recently; while the trades were made under pre-arranged plans, insider sales can still pressure sentiment. Wealthfront (NASDAQ:WLTH) Insider Sells $40,898.00 in Stock
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Wealthfront investors, adding a legal overhang that may weigh on the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wealthfront Corporation – WLTH

Hedge Funds Weigh In On Wealthfront

Several institutional investors and hedge funds have recently modified their holdings of WLTH. Tiger Global Management LLC acquired a new position in shares of Wealthfront during the 4th quarter worth approximately $205,982,000. Dag Ventures LLC bought a new stake in shares of Wealthfront during the 4th quarter valued at $187,725,000. Index Venture Associates VI Ltd acquired a new stake in shares of Wealthfront during the 4th quarter worth $128,567,000. Wellington Management Group LLP bought a new stake in Wealthfront during the fourth quarter worth about $54,182,000. Finally, North Reef Capital Management LP grew its stake in Wealthfront by 135.2% during the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after buying an additional 1,658,624 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WLTH shares. JPMorgan Chase & Co. dropped their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. 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 report on Friday, June 5th. Wells Fargo & Company increased their price target on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group reduced their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Finally, Citizens Jmp dropped their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, March 16th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.