Envestnet Major Shareholder Aos Partners, Lp Unloads 4,201,997 Shares (ENV)
Envestnet (NYSE:ENV) major shareholder Aos Partners, Lp sold 4,201,997 shares of the company’s stock 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 $122,908,412.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
ENV has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $24.00.
Envestnet (NYSE:ENV) opened at 34.58 on Wednesday. Envestnet has a 52-week low of $12.73 and a 52-week high of $36.25. The stock’s 50-day moving average is $30.39 and its 200-day moving average is $24.63. The company has a market cap of $1.155 billion and a P/E ratio of 596.21.
Envestnet (NYSE:ENV) last released its earnings data on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. 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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