AWH Capital L.P. Buys New Stake in Wealthfront $WLTH

AWH Capital L.P. acquired a new position in Wealthfront (NASDAQ:WLTH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 360,000 shares of the company's stock, valued at approximately $3,218,400,000. Wealthfront accounts for approximately 2.2% of AWH Capital L.P.'s investment portfolio, making the stock its 20th biggest holding. AWH Capital L.P. owned about 0.24% of Wealthfront at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Tiger Global Management LLC acquired a new stake in shares of Wealthfront during the 4th quarter valued at $205,982,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront during the fourth quarter valued at approximately $187,725,000. Index Venture Associates VI Ltd acquired a new stake in shares of Wealthfront during the fourth quarter valued at approximately $128,567,000. BlackRock Inc. purchased a new stake in shares of Wealthfront in the 2nd quarter valued at approximately $74,766,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Wealthfront in the 4th quarter valued at approximately $54,182,000.

Wealthfront Stock Up 1.2%

Shares of WLTH stock opened at $9.41 on Friday. The company has a market cap of $1.41 billion and a PE ratio of -9.14. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The business's 50 day moving average is $9.19 and its two-hundred day moving average is $9.54.

Wealthfront (NASDAQ:WLTH - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. Wealthfront's quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Wealthfront will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

WLTH has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Wealthfront from $12.00 to $11.50 and set an "overweight" rating for the company in a research report on Tuesday, August 4th. Wall Street Zen raised Wealthfront from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. The Goldman Sachs Group reduced their price objective on Wealthfront from $12.00 to $10.50 and set a "neutral" rating for the company in a research note on Thursday, July 2nd. Royal Bank Of Canada lowered their target price on Wealthfront from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods dropped 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 note on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wealthfront currently has an average rating of "Hold" and a consensus price target of $12.42.

Insider Activity at Wealthfront

In related news, VP Kal Iyer sold 28,498 shares of Wealthfront stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.46, for a total transaction of $241,093.08. Following the sale, the vice president directly owned 225,771 shares of the company's stock, valued at $1,910,022.66. This trade represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Julien Wetterwald sold 39,810 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total value of $336,792.60. Following the completion of the transaction, the chief technology officer owned 727,052 shares of the company's stock, valued at $6,150,859.92. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 in the last quarter. Company insiders own 27.36% of the company's stock.

About Wealthfront

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.

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