Handelsbanken Fonder AB Boosts Stock Position in Envestnet, Inc. (NYSE:ENV)

Handelsbanken Fonder AB boosted its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 156.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,723 shares of the business services provider’s stock after purchasing an additional 10,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Envestnet were worth $878,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ENV. Headlands Technologies LLC bought a new stake in shares of Envestnet in the 3rd quarter valued at approximately $45,000. PNC Financial Services Group Inc. lifted its position in Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after buying an additional 802 shares during the last quarter. Argent Capital Management LLC boosted its stake in Envestnet by 32.7% during the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after buying an additional 1,274 shares during the period. Tower Research Capital LLC TRC increased its position in Envestnet by 75.3% during the third quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Envestnet during the third quarter valued at $420,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. Raymond James increased their price target on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and set a $79.00 price objective on shares of Envestnet in a report on Wednesday, April 17th. Finally, DA Davidson increased their target price on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.67.

Envestnet Price Performance

ENV opened at $62.83 on Tuesday. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -14.38 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet, Inc. has a 12-month low of $33.12 and a 12-month high of $68.83. The business’s fifty day simple moving average is $56.32 and its 200-day simple moving average is $48.90.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, equities research analysts anticipate that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other Envestnet news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.