Anil Arora Sells 8,980 Shares of Envestnet, Inc (ENV) Stock
Envestnet, Inc (NYSE:ENV) insider Anil Arora sold 8,980 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the sale, the insider now directly owns 68,609 shares of the company’s stock, valued at $2,744,360. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Envestnet, Inc (NYSE ENV) traded up 1.13% during midday trading on Wednesday, hitting $40.20. The company had a trading volume of 289,182 shares. The company’s market capitalization is $1.76 billion. The company has a 50-day moving average of $38.39 and a 200-day moving average of $36.44. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $41.47.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. The company had revenue of $157.80 million for the quarter, compared to analysts’ expectations of $155.56 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Analysts predict that Envestnet, Inc will post $1.25 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Envestnet during the first quarter worth approximately $116,000. Parallel Advisors LLC purchased a new position in Envestnet during the first quarter worth approximately $131,000. Gradient Investments LLC purchased a new position in Envestnet during the second quarter worth approximately $191,000. CI Investments Inc. purchased a new position in Envestnet during the first quarter worth approximately $194,000. Finally, Blueport Capital L.P. boosted its position in Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock worth $202,000 after buying an additional 2,574 shares during the period. Institutional investors own 98.98% of the company’s stock.
ENV has been the subject of a number of research analyst reports. Zacks Investment Research lowered Envestnet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. BidaskClub raised Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and set a $40.00 price target on shares of Envestnet in a research note on Thursday, May 11th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 price target on shares of Envestnet in a research note on Friday, July 14th. Finally, William Blair reissued a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.60.
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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