WisdomTree (W) stock has been outperforming the market over the past year, with CEO Jonathan Steinberg recently increasing his stake in the asset management company.
Strong Performance in 2023 and 2024
In 2023, WisdomTree stock surged 27%, beating the S&P 500 index’s 24% rise. The company has continued to keep pace with the index in 2024. Furthermore, on February 2, WisdomTree announced a robust fourth quarter, surpassing $100 billion in assets under management for the first time.
CEO’s Vote of Confidence
On February 13, Steinberg invested $2.2 million to acquire 303,781 additional shares of WisdomTree at an average price of $7.20 each. This purchase brought his total ownership to 9.2 million shares, including unvested restricted stock awards. In a statement, Steinberg expressed his optimism about the company’s future and its potential to capitalize on evolving trends in tokenized assets and blockchain-enabled finance.
Analysts’ View
According to Oppenheimer & Co. analyst Chris Kotowski, earning releases for WisdomTree may lack excitement due to the company’s consistent reporting of flows and assets under management. Kotowski recently raised the price target for WisdomTree stock to $12 from $11 while maintaining an Outperform rating.
Insider Transactions
Each month, Inside Scoop highlights stock transactions made by corporate executives and other prominent figures. These transactions, disclosed to regulatory bodies like the Securities and Exchange Commission, offer insights into the confidence insiders have in their companies.
The recent move by CEO Jonathan Steinberg to increase his holdings in WisdomTree signals a strong vote of confidence in the company’s direction and growth potential.
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