A number of other research firms have also commented on ENV. BidaskClub lowered shares of Envestnet from a buy rating to a hold rating in a research report on Friday, August 4th. Jefferies Group LLC reissued a buy rating and issued a $48.00 price target on shares of Envestnet in a research report on Friday, July 14th. Zacks Investment Research lowered shares of Envestnet from a buy rating to a hold rating in a research report on Monday, August 14th. William Blair reissued a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Finally, DA Davidson assumed coverage on shares of Envestnet in a research report on Thursday, July 6th. They issued a neutral rating and a $42.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $45.50.
Shares of Envestnet (NYSE ENV) opened at 46.95 on Monday. The company’s 50-day moving average is $42.57 and its 200-day moving average is $37.76. The firm’s market capitalization is $2.07 billion. Envestnet has a 12-month low of $30.80 and a 12-month high of $47.25.
Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. Envestnet’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that Envestnet will post $1.29 earnings per share for the current fiscal year.
In related news, COO Joshua Mayer sold 1,500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $43.66, for a total transaction of $65,490.00. Following the transaction, the chief operating officer now owns 13,796 shares of the company’s stock, valued at $602,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $44.45, for a total transaction of $33,159.70. Following the transaction, the director now directly owns 801 shares in the company, valued at approximately $35,604.45. The disclosure for this sale can be found here. In the last three months, insiders sold 35,718 shares of company stock worth $1,420,284. Insiders own 7.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in Envestnet during the first quarter worth $116,000. D.A. Davidson & CO. increased its position in Envestnet by 13.0% during the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after acquiring an additional 379 shares during the period. Parallel Advisors LLC bought a new position in Envestnet during the first quarter worth $131,000. Gradient Investments LLC bought a new position in Envestnet during the second quarter worth $191,000. Finally, Blueport Capital L.P. increased its position in Envestnet by 69.9% during the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock worth $202,000 after acquiring an additional 2,574 shares during the period. 95.51% of the stock is currently owned by institutional investors and hedge funds.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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