Wealthfront (NASDAQ:WLTH) CFO Sells 20,304 Shares of Stock

Key Points

• Wealthfront CFO Alan Imberman sold 20,304 shares at an average price of $10.73, totaling $217,861.92. The sale covered tax withholding obligations tied to vested equity awards and reduced his position by 4.06%; he retained 479,802 shares.
• Wealthfront shares fell 0.5% to $10.12, with a $1.58 billion market capitalization. The company recently reported quarterly EPS of $0.10, ahead of the $0.09 consensus estimate, and revenue of $91.87 million.
• Analyst sentiment remains mixed, with four Buy, four Hold and one Sell rating. The stock has an average price target of $12.00, while several firms recently lowered their targets.

Wealthfront (NASDAQ:WLTH - Get Free Report) CFO Alan Imberman sold 20,304 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $217,861.92. Following the completion of the sale, the chief financial officer owned 479,802 shares of the company's stock, valued at $5,148,275.46. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alan Imberman also recently made the following trade(s):

• On Wednesday, September 16th, Alan Imberman sold 6,292 shares of Wealthfront stock. The shares were sold at an average price of $10.19, for a total transaction of $64,115.48.

Wealthfront Stock Down 0.5%

Wealthfront stock traded down $0.05 during midday trading on Thursday, reaching $10.12. The stock had a trading volume of 3,124,872 shares, compared to its average volume of 1,606,351. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of -10.88. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88. The company has a fifty day moving average of $9.46 and a 200 day moving average of $9.69.

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

Hedge Funds Weigh In On Wealthfront

A number of hedge funds and other institutional investors have recently made changes to their positions in WLTH. Royal Bank of Canada bought a new stake in shares of Wealthfront in the first quarter valued at about $27,000. Strs Ohio bought a new position in Wealthfront during the 1st quarter worth about $56,000. Squarepoint Ops LLC purchased a new position in Wealthfront during the 2nd quarter valued at about $90,000. Arizona State Retirement System purchased a new position in Wealthfront during the 2nd quarter valued at about $102,000. Finally, AXQ Capital LP bought a new stake in shares of Wealthfront in the 2nd quarter valued at about $105,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on Wealthfront from $11.00 to $10.50 and set a "market perform" rating on the stock in a research report on Monday, July 13th. The Goldman Sachs Group reissued a "neutral" rating and set a $10.00 target price on shares of Wealthfront in a research note on Thursday, September 10th. Royal Bank Of Canada cut their price target on shares of Wealthfront from $13.00 to $11.00 and set an "outperform" rating on the stock in a report 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 on the stock in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Wealthfront from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, June 5th. Four investment 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 currently has an average rating of "Hold" and an average target price of $12.00.

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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