Wealthfront (NASDAQ:WLTH) Insider Lauren Lin Sells 16,117 Shares of Stock

Key Points

• Insider sale: Lauren Lin sold 16,117 Wealthfront shares at an average price of $10.73, totaling $172,935.41. The sale, which reduced her holdings by 8.16%, was made to cover tax withholding related to vested equity awards.
• Operating results: Wealthfront reported quarterly EPS of $0.10, beating estimates by $0.01, while revenue reached $91.87 million, up 0.9% year over year. However, the company posted a negative net margin of 19.42% and negative return on equity of 14.62%.
• Analyst outlook: Shares recently traded near $10.12, while analysts’ average price target is $12.00. Ratings are mixed, resulting in a consensus “Hold” recommendation.

Wealthfront (NASDAQ:WLTH - Get Free Report) insider Lauren Lin sold 16,117 shares of Wealthfront stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $10.73, for a total transaction of $172,935.41. Following the sale, the insider owned 181,385 shares of the company's stock, valued at approximately $1,946,261.05. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lauren Lin also recently made the following trade(s):

• On Wednesday, September 16th, Lauren Lin sold 4,995 shares of Wealthfront stock. The stock was sold at an average price of $10.19, for a total transaction of $50,899.05.

Wealthfront Price Performance

Shares of NASDAQ:WLTH traded down $0.05 during mid-day trading on Thursday, reaching $10.12. 3,124,872 shares of the company were exchanged, compared to its average volume of 1,606,351. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The firm's 50-day simple moving average is $9.46 and its 200 day simple moving average is $9.69. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of -10.88.

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 analysts' consensus estimates of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The company had revenue of $91.87 million for the quarter. Wealthfront's revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts forecast that Wealthfront will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Wealthfront

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada purchased a new position in Wealthfront in the first quarter valued at $27,000. Strs Ohio purchased a new stake in Wealthfront during the 1st quarter worth about $56,000. Squarepoint Ops LLC acquired a new stake in Wealthfront in the 2nd quarter valued at about $90,000. Arizona State Retirement System acquired a new stake in Wealthfront in the 2nd quarter valued at about $102,000. Finally, AXQ Capital LP purchased a new position in shares of Wealthfront in the 2nd quarter valued at about $105,000.

Wall Street Analyst Weigh In

WLTH has been the topic of several research reports. Royal Bank Of Canada decreased their target price on Wealthfront from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, September 10th. JPMorgan Chase & Co. dropped their target price on Wealthfront from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, June 5th. Wells Fargo & Company cut 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. Weiss Ratings reissued a "sell (d)" rating on shares of Wealthfront in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods dropped their price objective 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 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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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