First Trust Advisors LP lessened its holdings in Envestnet Inc (NYSE:ENV) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,169 shares of the business services provider’s stock after selling 3,866 shares during the period. First Trust Advisors LP owned 0.11% of Envestnet worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of ENV. Vanguard Group Inc. increased its position in Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after buying an additional 112,801 shares during the period. Vanguard Group Inc increased its position in Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after buying an additional 112,801 shares during the period. BlackRock Inc. increased its position in Envestnet by 1.6% during the 3rd quarter. BlackRock Inc. now owns 3,200,120 shares of the business services provider’s stock worth $195,048,000 after buying an additional 49,908 shares during the period. Clearbridge Investments LLC increased its position in Envestnet by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock worth $54,136,000 after buying an additional 11,953 shares during the period. Finally, Victory Capital Management Inc. increased its position in Envestnet by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 671,388 shares of the business services provider’s stock worth $33,025,000 after buying an additional 11,870 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.
Several research analysts have weighed in on ENV shares. DA Davidson increased their price objective on Envestnet to $64.00 and gave the stock an “average” rating in a research report on Friday, February 22nd. They noted that the move was a valuation call. TheStreet upgraded Envestnet from a “c+” rating to a “b” rating in a research report on Friday, February 22nd. Buckingham Research started coverage on Envestnet in a research report on Thursday, January 10th. They set a “buy” rating and a $63.00 price objective on the stock. UBS Group lowered their price objective on Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, January 8th. Finally, Rosenblatt Securities started coverage on Envestnet in a research report on Wednesday, December 5th. They set a “buy” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.89.
In other news, COO Joshua Mayer sold 1,162 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $61.15, for a total transaction of $71,056.30. Following the sale, the chief operating officer now directly owns 36,222 shares of the company’s stock, valued at approximately $2,214,975.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anil Arora sold 567 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $54.74, for a total value of $31,037.58. Following the sale, the insider now directly owns 64,745 shares in the company, valued at $3,544,141.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,462 shares of company stock worth $521,883. 5.49% of the stock is currently owned by insiders.
ENV opened at $66.64 on Friday. The firm has a market cap of $3.21 billion, a PE ratio of 53.31, a P/E/G ratio of 2.56 and a beta of 1.89. Envestnet Inc has a 52-week low of $46.57 and a 52-week high of $66.67. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.
Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.18. The company had revenue of $210.08 million for the quarter, compared to analyst estimates of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. Equities analysts forecast that Envestnet Inc will post 1.53 earnings per share for the current year.
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Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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