Lauren Lin Sells 4,840 Shares of Wealthfront (NASDAQ:WLTH) Stock

Wealthfront (NASDAQ:WLTH) insider Lauren Lin sold 4,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.45, for a total value of $40,898.00. Following the completion of the transaction, the insider owned 158,092 shares of the company’s stock, valued at $1,335,877.40. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wealthfront Stock Performance

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

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 company had revenue of $90.48 million during the quarter. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that Wealthfront will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on WLTH shares. Royal Bank Of Canada lowered 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 started coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Keefe, Bruyette & Woods decreased their price target on shares of Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Citizens Jmp decreased their target price on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Four 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 stock. According to data from MarketBeat, Wealthfront presently has a consensus rating of “Hold” and an average price target of $12.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada acquired a new stake in Wealthfront during the 1st quarter worth approximately $27,000. Sandia Investment Management LP acquired a new position in Wealthfront in the 4th quarter valued at approximately $44,000. Strs Ohio bought 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 worth $131,000. Finally, Barclays PLC acquired a new stake in Wealthfront in the fourth quarter valued at $136,000.

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.