Innealta Capital LLC Takes Position in Envestnet, Inc. (NYSE:ENV)

Innealta Capital LLC bought a new stake in Envestnet, Inc. (NYSE:ENV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 741 shares of the business services provider’s stock, valued at approximately $46,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Envestnet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after purchasing an additional 83,081 shares during the last quarter. Impactive Capital LP boosted its holdings in shares of Envestnet by 0.8% in the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock valued at $242,288,000 after acquiring an additional 32,832 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Envestnet by 14.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after purchasing an additional 207,632 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Envestnet by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock valued at $59,586,000 after acquiring an additional 10,360 shares in the last quarter.

Envestnet Stock Performance

NYSE:ENV traded up $0.17 during midday trading on Friday, reaching $62.75. The stock had a trading volume of 701,697 shares, compared to its average volume of 693,492. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $73.04. The firm’s fifty day simple moving average is $62.27 and its 200-day simple moving average is $60.41. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $3.46 billion, a P/E ratio of -17.63 and a beta of 1.28.

Envestnet (NYSE:ENV) last posted its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts forecast that Envestnet, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENV has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $63.00 in a research report on Thursday, July 18th. Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and increased their target price for the stock from $47.00 to $59.00 in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada increased their target price on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.