Insider Selling: Wealthfront (NASDAQ:WLTH) VP Sells $408,286.24 in Stock

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 45,772 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $8.92, for a total value of $408,286.24. Following the completion of the sale, the vice president owned 254,269 shares of the company’s stock, valued at approximately $2,268,079.48. This represents a 15.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wealthfront Stock Performance

WLTH stock opened at $8.44 on Friday. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The company’s fifty day moving average price is $10.72.

Wealthfront (NASDAQ:WLTH) last released its earnings results 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 for the quarter. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Wealthfront will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on WLTH. Wells Fargo & Company boosted their target price on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Citizens Jmp reduced their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, March 16th. The Goldman Sachs Group dropped their price objective on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, March 12th. Royal Bank Of Canada reduced their target price on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.