AWH Capital L.P. Purchases Shares of 360,000 Wealthfront $WLTH

Key Points

• AWH Capital initiated a 360,000-share Wealthfront position worth approximately $3.2 million, representing 0.24% of the company and its 20th-largest portfolio holding.
• Wealthfront shares were trading at $9.25, down 1.7%, after the company reported quarterly EPS of $0.07—below the $0.09 consensus—while revenue rose 7.1% year over year to $90.48 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $12.42 price target; insiders sold 136,565 shares worth about $1.19 million over the past three months.

AWH Capital L.P. purchased a new stake in Wealthfront (NASDAQ:WLTH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 360,000 shares of the company's stock, valued at approximately $3,218,400. Wealthfront comprises about 0.0% of AWH Capital L.P.'s investment portfolio, making the stock its 20th largest position. AWH Capital L.P. owned 0.24% of Wealthfront as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Royal Bank of Canada bought a new position in shares of Wealthfront in the 1st quarter valued at $27,000. Sandia Investment Management LP bought a new position in shares of Wealthfront in the 4th quarter valued at $44,000. Strs Ohio bought a new position in shares of Wealthfront in the 1st quarter valued at $56,000. The Manufacturers Life Insurance Company bought a new position in shares of Wealthfront in the 2nd quarter valued at $106,000. Finally, ICONIQ Capital LLC bought a new position in shares of Wealthfront in the 2nd quarter valued at $111,000.

Wealthfront Trading Down 1.7%

Shares of NASDAQ WLTH opened at $9.25 on Friday. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The stock has a 50 day moving average of $9.21 and a 200-day moving average of $9.54. The company has a market capitalization of $1.38 billion and a P/E ratio of -8.98.

Wealthfront (NASDAQ:WLTH - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.07 earnings per share 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 business's revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts predict that Wealthfront will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WLTH shares. Royal Bank Of Canada reduced their price target on shares of Wealthfront from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group dropped their target price on shares of Wealthfront from $12.00 to $10.50 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Wealthfront from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Weiss Ratings restated a "sell (d)" rating on shares of Wealthfront in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Wealthfront from $11.00 to $10.50 and set a "market perform" rating on the stock in a report on Monday, July 13th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.42.

Insiders Place Their Bets

In related news, Director Jaleh Bisharat sold 8,503 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $9.50, for a total value of $80,778.50. Following the sale, the director directly owned 8,503 shares of the company's stock, valued at $80,778.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 28,498 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total value of $241,093.08. Following the completion of the sale, the vice president directly owned 225,771 shares in the company, valued at $1,910,022.66. The trade was a 11.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 136,565 shares of company stock valued at $1,193,520 over the last three months. Company insiders own 27.36% of the company's stock.

Wealthfront 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.