Envestnet General Counsel Unloads $585,000 in Stock (ENV)
Envestnet (NYSE:ENV) General Counsel Shelly O’brien sold 20,000 shares of Envestnet stock on the open market in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $29.25, for a total value of $585,000.00. Following the sale, the general counsel now directly owns 442 shares in the company, valued at approximately $12,929. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital downgraded shares of Envestnet from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday, September 24th. They now have a $34.00 price target on the stock, up previously from $29.00. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.00.
Shares of Envestnet (NYSE:ENV) traded down 2.26% on Tuesday, hitting $34.58. The stock had a trading volume of 266,968 shares. Envestnet has a 52-week low of $12.73 and a 52-week high of $36.25. The stock has a 50-day moving average of $30.39 and a 200-day moving average of $24.63. The company has a market cap of $1.155 billion and a P/E ratio of 610.00.
Envestnet (NYSE:ENV) last announced its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.13. The company had revenue of $51.63 million for the quarter, compared to the consensus estimate of $51.21 million. During the same quarter last year, the company posted $0.07 earnings per share. Envestnet’s revenue was up 36.0% compared to the same quarter last year. Analysts expect that Envestnet will post $0.54 EPS for the current fiscal year.
Envestnet, Inc (NYSE:ENV) is a provider of wealth management solutions to financial advisors and institutions.
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