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

Wealthfront (NASDAQ:WLTH) Director Jaleh Bisharat sold 8,504 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $9.39, for a total value of $79,852.56. Following the transaction, the director directly owned 8,503 shares of the company’s stock, valued at $79,843.17. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $9.50, for a total value of $80,778.50.

Wealthfront Stock Down 5.1%

Shares of WLTH stock traded down $0.48 during trading hours on Wednesday, reaching $8.99. 1,952,874 shares of the company’s stock were exchanged, compared to its average volume of 1,615,483. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The company has a market capitalization of $1.34 billion and a PE ratio of -8.73. The business’s fifty day simple moving average is $10.28.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings data 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. Wealthfront’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Wealthfront will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WLTH has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen cut shares of Wealthfront from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Keefe, Bruyette & Woods lowered their price target on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a report on Monday. Finally, Royal Bank Of Canada reduced their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.58.

Institutional Investors Weigh In On Wealthfront

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada acquired a new position in shares of Wealthfront in the 1st quarter valued at $27,000. Sandia Investment Management LP acquired a new stake in shares of Wealthfront during the 4th quarter valued at about $44,000. Strs Ohio bought a new stake in Wealthfront in the first quarter valued at about $56,000. SummitTX Capital L.P. acquired a new position in Wealthfront in the first quarter worth about $131,000. Finally, Barclays PLC bought a new position in Wealthfront during the fourth quarter worth about $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.