Wealthfront (NASDAQ:WLTH) Receives $12.42 Consensus PT from Brokerages

Wealthfront (NASDAQ:WLTH) has been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.4167.

A number of research analysts recently commented on WLTH shares. JPMorgan Chase & Co. lowered their price target on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Keefe, Bruyette & Woods reduced their price objective on Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada decreased their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a research note on Monday, July 6th. Finally, The Goldman Sachs Group dropped their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd.

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.

Hedge Funds Weigh In On Wealthfront

A number of large investors have recently made changes to their positions in WLTH. Royal Bank of Canada purchased a new stake in Wealthfront in the 1st quarter worth about $27,000. Sandia Investment Management LP purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $44,000. Strs Ohio bought a new position in shares of Wealthfront during the first quarter valued at approximately $56,000. Barclays PLC bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $136,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Wealthfront in the second quarter worth approximately $106,000.

Wealthfront Stock Down 3.3%

Wealthfront stock opened at $9.14 on Friday. The company has a market cap of $1.37 billion and a price-to-earnings ratio of -8.87. The firm’s fifty day moving average is $9.10 and its 200 day moving average is $9.50. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $90.48 million for the quarter. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Wealthfront will post 0.42 earnings per share for the current fiscal year.

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.