Insider Selling: Wealthfront (NASDAQ:WLTH) Insider Sells $40,898.00 in Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 4,840 shares of Wealthfront stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $8.45, for a total transaction of $40,898.00. Following the completion of the transaction, the insider owned 158,092 shares in the company, valued at approximately $1,335,877.40. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Price Performance

Shares of Wealthfront stock traded down $0.22 during trading on Monday, hitting $8.22. The stock had a trading volume of 1,857,562 shares, compared to its average volume of 1,593,316. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The stock’s 50 day simple moving average is $10.72.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WLTH shares. Keefe, Bruyette & Woods dropped their target price on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Citizens Jmp reduced their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, March 16th. Wells Fargo & Company raised their price target on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Finally, Weiss Ratings began coverage on shares of Wealthfront in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.75.

Institutional Trading of Wealthfront

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new stake in Wealthfront during the 1st quarter worth $27,000. Sandia Investment Management LP acquired a new position in shares of Wealthfront in the 4th quarter valued at $44,000. Strs Ohio bought a new position in shares of Wealthfront in the 1st quarter worth $56,000. Barclays PLC acquired a new stake in shares of Wealthfront during the fourth quarter worth $136,000. Finally, Symmetry Investments LP bought a new stake in Wealthfront in the fourth quarter valued at about $190,000.

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.