Julien Wetterwald Sells 26,231 Shares of Wealthfront (NASDAQ:WLTH) Stock

Key Points

• Wealthfront CTO Julien Wetterwald sold 26,231 shares at an average price of $10.73, generating $281,458.63; the sale was intended to cover tax withholding on vested equity awards and reduced his direct holdings by 3.47%.
• Wealthfront shares fell 0.5% to $10.12, while the company reported quarterly EPS of $0.10, exceeding the $0.09 consensus estimate, on revenue of $91.87 million.
• Analysts maintain a consensus “Hold” rating with a $12.00 price target, reflecting four Buy ratings, four Holds and one Sell.

Wealthfront (NASDAQ:WLTH - Get Free Report) CTO Julien Wetterwald sold 26,231 shares of Wealthfront stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $281,458.63. Following the sale, the chief technology officer directly owned 730,793 shares in the company, valued at $7,841,408.89. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Julien Wetterwald also recently made the following trade(s):

• On Wednesday, September 16th, Julien Wetterwald sold 8,130 shares of Wealthfront stock. The shares were sold at an average price of $10.19, for a total transaction of $82,844.70.

Wealthfront Stock Down 0.5%

Shares of Wealthfront stock traded down $0.05 during trading hours on Thursday, hitting $10.12. 3,124,872 shares of the company's stock traded hands, compared to its average volume of 1,606,351. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88. The company has a market cap of $1.58 billion and a PE ratio of -10.88. The stock has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $9.69.

Wealthfront (NASDAQ:WLTH - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $91.87 million for the quarter. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The company's revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Wealthfront will post 0.41 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on WLTH. Wall Street Zen raised shares of Wealthfront from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Wells Fargo & Company lowered their price objective on Wealthfront from $12.00 to $11.50 and set an "overweight" rating for the company in a report on Tuesday, August 4th. The Goldman Sachs Group restated a "neutral" rating and set a $10.00 price objective on shares of Wealthfront in a research note on Thursday, September 10th. Keefe, Bruyette & Woods reduced their target price on Wealthfront from $11.00 to $10.50 and set a "market perform" rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings reiterated 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WLTH. Whetstone Capital Advisors LLC raised its stake in Wealthfront by 10.6% during the second quarter. Whetstone Capital Advisors LLC now owns 604,160 shares of the company's stock worth $5,401,000 after acquiring an additional 57,753 shares during the period. Squarepoint Ops LLC acquired a new position in Wealthfront in the second quarter valued at approximately $90,000. Arizona State Retirement System acquired a new position in Wealthfront in the second quarter valued at approximately $102,000. AXQ Capital LP bought a new position in shares of Wealthfront during the second quarter valued at approximately $105,000. Finally, ICONIQ Capital LLC acquired a new stake in shares of Wealthfront during the 2nd quarter worth approximately $111,000.

About Wealthfront

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.

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