Robo-Adviser Wealthfront Rises After $484.6 Million IPO (1)

Wealthfront Corp.shares closed higher in its trading debut, after the company and some of its shareholders raised $484.6 million in an initial public offering.

The Palo Alto, California-based company’s shares gained 1.4% on Friday to close at $14.19 each in New York. Wealthfront and the backers sold 34.6 million shares after marketing them for $12 to $14 each.

The closing gives Wealthfront a market value of around $2.1 billion based on the outstanding shares listed in its filing. Accounting for employee stock options, restricted shares and warrants, the company has a diluted valuation of about $2.7 billion.

The IPO ...