Wealthfront (NASDAQ:WLTH) VP Kal Iyer Sells 33,583 Shares

Wealthfront (NASDAQ:WLTH) VP Kal Iyer sold 33,583 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total value of $360,345.59. Following the completion of the transaction, the vice president directly owned 269,640 shares of the company’s stock, valued at approximately $2,893,237.20. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kal Iyer also recently made the following trade(s):

• On Wednesday, September 16th, Kal Iyer sold 10,408 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total transaction of $106,057.52.

Wealthfront Trading Down 0.7%

NASDAQ:WLTH opened at $10.10 on Friday. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The firm’s 50 day moving average is $9.48 and its 200 day moving average is $9.70. The stock has a market capitalization of $1.58 billion and a PE ratio of -10.86.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Wealthfront had a negative net margin of 19.42% and a negative return on equity of 14.62%. The company had revenue of $91.87 million for the quarter. The business’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that Wealthfront will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WLTH shares. Royal Bank Of Canada dropped their price target on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Wells Fargo & Company reduced their price target on shares of Wealthfront from $12.00 to $11.50 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Keefe, Bruyette & Woods lowered their price objective on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On Wealthfront

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada bought a new stake in shares of Wealthfront during the first quarter worth $27,000. Strs Ohio bought a new stake in shares of Wealthfront during the first quarter valued at approximately $56,000. Squarepoint Ops LLC purchased a new stake in shares of Wealthfront in the second quarter valued at approximately $90,000. Arizona State Retirement System purchased a new stake in shares of Wealthfront in the second quarter valued at approximately $102,000. Finally, AXQ Capital LP bought a new position in Wealthfront in the second quarter worth approximately $105,000.

More Wealthfront News

Here are the key news stories impacting Wealthfront this week:

• Positive Sentiment: Platform assets increased 12% year over year to $99 billion during the fiscal second quarter and exceeded $100 billion by the end of August. Funded clients also grew 14% to 1.51 million, supporting Wealthfront’s long-term growth story. Wealthfront Tops $100 Billion in Platform Assets
• Positive Sentiment: Quarterly earnings of $0.10 per share exceeded the $0.09 consensus estimate, while revenue reached $91.87 million.
• Neutral Sentiment: The key investor concern is whether asset and client growth can translate into stronger revenue and profitability: quarterly revenue rose only about 1% year over year, while Wealthfront continued to report a negative net margin and negative return on equity. Wealthfront Earnings Call: Growth Strong, Margins Tested
• Negative Sentiment: Several executives and insiders reported stock sales, including the CFO, CTO, two vice presidents, another insider and a director. The transactions totaled roughly $1.34 million across the disclosed sales, creating a potential overhang and likely contributing to the stock’s recent weakness. However, most sales were made to cover tax-withholding obligations tied to vested equity awards, and the director’s sale occurred under a pre-arranged Rule 10b5-1 plan, which makes the transactions less indicative of broad-based loss of confidence. Wealthfront Insider Sale Filing

Wealthfront Company Profile

Wealthfront, Inc is a U.S.-based digital wealth management company that provides automated investing, financial planning and cash management services through an online platform and mobile applications. The company is designed to help individuals manage their finances with technology-driven tools and diversified investment portfolios.

Its offerings have included automated investment accounts, tax-efficient portfolio management, financial planning tools, high-yield cash management products and lending services.