Envestnet Inc. (ENV) Stock Price Up 2.8%
Envestnet Inc. (NYSE:ENV) shares rose 2.8% during mid-day trading on Tuesday . The company traded as high as $38.47 and last traded at $38.31, with a volume of 72,158 shares changing hands. The stock had previously closed at $37.25.
ENV has been the subject of a number of research analyst reports. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a research note on Friday, August 19th. Jefferies Group set a $48.00 target price on Envestnet and gave the company a “buy” rating in a research note on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and issued a $40.00 target price (up from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Royal Bank Of Canada boosted their target price on Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Finally, JMP Securities reissued a “buy” rating and issued a $9.50 target price (down from $36.00) on shares of Envestnet in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Envestnet currently has a consensus rating of “Buy” and an average price target of $36.19.
The stock has a 50 day moving average of $38.85 and a 200-day moving average of $33.53. The company’s market cap is $1.64 billion.
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Envestnet (NYSE:ENV) last announced its earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business earned $141.70 million during the quarter, compared to analyst estimates of $139.12 million. Envestnet had a positive return on equity of 4.20% and a negative net margin of 3.95%. Envestnet’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Equities research analysts expect that Envestnet Inc. will post $0.99 EPS for the current fiscal year.
In other news, insider Shelly O’brien sold 3,500 shares of Envestnet stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $33.64, for a total value of $117,740.00. Following the completion of the transaction, the insider now directly owns 9,240 shares of the company’s stock, valued at approximately $310,833.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anil Arora sold 1,750 shares of Envestnet stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $37.50, for a total value of $65,625.00. Following the completion of the transaction, the director now directly owns 92,114 shares of the company’s stock, valued at $3,454,275. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Capital Management LLC raised its position in Envestnet by 1.5% in the second quarter. Janus Capital Management LLC now owns 3,431,524 shares of the company’s stock valued at $114,304,000 after buying an additional 52,131 shares during the period. Vanguard Group Inc. increased its stake in shares of Envestnet by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,882,842 shares of the company’s stock valued at $96,027,000 after buying an additional 95,155 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Envestnet by 17.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,591,040 shares of the company’s stock valued at $70,476,000 after buying an additional 377,540 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Envestnet by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,424,934 shares of the company’s stock valued at $47,465,000 after buying an additional 276,308 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Envestnet by 8.0% in the second quarter. BlackRock Fund Advisors now owns 997,963 shares of the company’s stock valued at $33,242,000 after buying an additional 73,537 shares in the last quarter.
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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