Board of Trustees of The Leland Stanford Junior University Takes Position in Wealthfront $WLTH

Key Points

• Board of Trustees of The Leland Stanford Junior University bought 208,471 shares of Wealthfront in the first quarter, valued at about $1.93 million, making it the fund’s 10th-largest holding.
• Wealthfront’s latest quarterly results showed EPS of $0.07, missing expectations by $0.02, while revenue rose 7.1% year over year to $90.48 million.
• Analyst sentiment remains mixed but cautious: the stock has a consensus Hold rating with an average price target of $12.50, even as several firms recently trimmed their targets.

Board of Trustees of The Leland Stanford Junior University bought a new position in Wealthfront (NASDAQ:WLTH - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 208,471 shares of the company's stock, valued at approximately $1,928,000. Wealthfront accounts for approximately 0.2% of Board of Trustees of The Leland Stanford Junior University's investment portfolio, making the stock its 10th biggest holding. Board of Trustees of The Leland Stanford Junior University owned 0.14% of Wealthfront as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Wealthfront during the fourth quarter valued at about $4,396,000. Teacher Retirement System of Texas purchased a new position in shares of Wealthfront in the fourth quarter worth about $2,310,000. Index Venture Associates VI Ltd bought a new stake in shares of Wealthfront in the 4th quarter valued at about $128,567,000. Dag Ventures LLC bought a new stake in shares of Wealthfront in the 4th quarter valued at about $187,725,000. Finally, Element Capital Management LLC purchased a new stake in Wealthfront during the 4th quarter valued at about $1,278,000.

Wealthfront Stock Performance

Shares of Wealthfront stock opened at $9.26 on Monday. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The stock has a market cap of $1.38 billion and a P/E ratio of -8.99. The firm's fifty day moving average is $10.00.

Wealthfront (NASDAQ:WLTH - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.07 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 was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Wealthfront will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Wealthfront from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 1st. Royal Bank Of Canada lowered 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. JPMorgan Chase & Co. dropped their price objective on Wealthfront from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, June 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Wealthfront in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Wealthfront from $11.00 to $10.50 and set a "market perform" rating for the company in a report on Monday, July 13th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Wealthfront has a consensus rating of "Hold" and a consensus price target of $12.50.

Insider Activity at Wealthfront

In other Wealthfront news, CTO Julien Wetterwald sold 39,810 shares of the firm's stock in a transaction dated 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 sale, the chief technology officer directly owned 727,052 shares in the company, valued at $6,150,859.92. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Kal Iyer sold 28,498 shares of Wealthfront stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $8.46, for a total value of $241,093.08. Following the sale, the vice president directly owned 225,771 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 136,565 shares of company stock valued at $1,193,520. 27.36% of the stock is currently owned by corporate insiders.

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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