Gayle A. Crowell Sells 746 Shares of Envestnet, Inc (ENV) Stock
Envestnet, Inc (NYSE:ENV) Director Gayle A. Crowell sold 746 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $51.20, for a total value of $38,195.20. Following the sale, the director now directly owns 801 shares of the company’s stock, valued at approximately $41,011.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Envestnet, Inc (ENV) traded up 2.69% during mid-day trading on Tuesday, reaching $53.50. The company had a trading volume of 443,644 shares. Envestnet, Inc has a 12-month low of $30.80 and a 12-month high of $53.50. The firm has a 50-day moving average of $46.12 and a 200-day moving average of $39.04. The company’s market capitalization is $2.36 billion.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. On average, equities analysts anticipate that Envestnet, Inc will post $1.29 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Envestnet during the first quarter valued at about $376,000. Geneva Advisors LLC lifted its holdings in Envestnet by 3.4% in the second quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock worth $1,689,000 after buying an additional 1,385 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after buying an additional 41,761 shares during the period. Van Berkom & Associates Inc. lifted its holdings in Envestnet by 8.8% in the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after buying an additional 133,303 shares during the period. Finally, Marshall Wace North America L.P. lifted its holdings in Envestnet by 541.4% in the second quarter. Marshall Wace North America L.P. now owns 64,674 shares of the business services provider’s stock worth $2,587,000 after buying an additional 54,590 shares during the period. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on ENV. Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Tuesday. William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. JMP Securities raised their price objective on shares of Envestnet from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 price objective on shares of Envestnet in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Envestnet in a research note on Monday, September 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.00.
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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