PEAK6 LLC Takes Position in Wealthfront $WLTH

PEAK6 LLC bought a new stake in shares of Wealthfront (NASDAQ:WLTH) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 225,000 shares of the company’s stock, valued at approximately $2,012,000. PEAK6 LLC owned approximately 0.15% of Wealthfront as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada bought a new position in shares of Wealthfront during the 1st quarter valued at about $27,000. Sandia Investment Management LP bought a new stake in shares of Wealthfront in the fourth quarter worth about $44,000. Strs Ohio purchased a new stake in shares of Wealthfront in the first quarter worth about $56,000. SummitTX Capital L.P. bought a new position in Wealthfront during the first quarter valued at approximately $131,000. Finally, Barclays PLC bought a new position in Wealthfront during the fourth quarter valued at approximately $136,000.

Wealthfront Price Performance

Shares of NASDAQ WLTH opened at $9.22 on Monday. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88. The business’s 50 day moving average is $9.13 and its two-hundred day moving average is $9.52. The stock has a market capitalization of $1.38 billion and a P/E ratio of -8.95.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wealthfront news, Director Jaleh Bisharat sold 8,503 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $9.50, for a total transaction of $80,778.50. Following the transaction, the director owned 8,503 shares in the company, valued at $80,778.50. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 4,840 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total transaction of $40,898.00. Following the completion of the sale, the insider directly owned 158,092 shares in the company, valued at approximately $1,335,877.40. This represents a 2.97% 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 136,565 shares of company stock valued at $1,193,520 in the last three months. Corporate insiders own 27.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WLTH. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Wells Fargo & Company reduced their price target on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Royal Bank Of Canada decreased their price target on shares of Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, The Goldman Sachs Group lowered 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, July 2nd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Wealthfront currently has a consensus rating of “Hold” and an average price target of $12.42.

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.