Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat Sells 8,504 Shares

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,504 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $9.39, for a total transaction of $79,852.56. Following the completion of the sale, the director directly owned 8,503 shares of the company’s stock, valued at approximately $79,843.17. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jaleh Bisharat also recently made the following trade(s):

• On Tuesday, July 7th, Jaleh Bisharat sold 8,503 shares of Wealthfront stock. The shares were sold at an average price of $9.50, for a total transaction of $80,778.50.

Wealthfront Price Performance

NASDAQ:WLTH traded down $0.48 during midday trading on Wednesday, hitting $8.99. 1,952,874 shares of the stock were exchanged, compared to its average volume of 1,615,483. Wealthfront has a one year low of $7.20 and a one year high of $14.88. The company has a market cap of $1.34 billion and a P/E ratio of -8.73. The company’s 50-day moving average price is $10.28.

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

Analysts Set New Price Targets

Several brokerages have commented on WLTH. Wall Street Zen cut shares of Wealthfront from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Citizens Jmp reduced their price objective on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, March 16th. JPMorgan Chase & Co. lowered their price objective on shares of 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 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 report on Friday, June 5th. Finally, Wells Fargo & Company reduced their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Four 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, the company currently has a consensus rating of “Hold” and an average price target of $12.58.

Institutional Investors Weigh In On Wealthfront

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada purchased a new stake in shares of Wealthfront in the first quarter worth approximately $27,000. Sandia Investment Management LP acquired a new stake in shares of Wealthfront in the 4th quarter valued at $44,000. Strs Ohio acquired a new stake in shares of Wealthfront in the first quarter worth about $56,000. SummitTX Capital L.P. bought a new stake in Wealthfront during the first quarter worth approximately $131,000. Finally, Barclays PLC bought a new stake in shares of Wealthfront during the 4th quarter worth $136,000.

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.