FMR LLC maintained its stake in shares of Envestnet Inc (NYSE:ENV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,120,400 shares of the business services provider’s stock at the end of the fourth quarter. FMR LLC owned approximately 2.60% of Envestnet worth $39,494,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in ENV. Great West Life Assurance Co. Can boosted its stake in shares of Envestnet by 76.9% in the third quarter. Great West Life Assurance Co. Can now owns 5,306 shares of the business services provider’s stock worth $193,000 after buying an additional 2,306 shares during the last quarter. 1st Global Advisors Inc. boosted its stake in shares of Envestnet by 7.9% in the third quarter. 1st Global Advisors Inc. now owns 6,940 shares of the business services provider’s stock worth $253,000 after buying an additional 509 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Envestnet during the third quarter worth about $536,000. Radnor Capital Management LLC bought a new stake in shares of Envestnet during the fourth quarter worth about $615,000. Finally, BlackRock Advisors LLC boosted its stake in shares of Envestnet by 16.8% in the third quarter. BlackRock Advisors LLC now owns 21,996 shares of the business services provider’s stock worth $802,000 after buying an additional 3,158 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.
Shares of Envestnet Inc (NYSE:ENV) traded down 1.45% on Friday, hitting $34.10. The stock had a trading volume of 140,327 shares. The stock’s 50-day moving average price is $34.02 and its 200 day moving average price is $35.89. Envestnet Inc has a 52 week low of $27.59 and a 52 week high of $41.47. The company’s market cap is $1.48 billion.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, March 23rd. The business services provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Envestnet had a positive return on equity of 3.91% and a negative net margin of 4.97%. The business had revenue of $156 million for the quarter, compared to the consensus estimate of $154.52 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. On average, analysts predict that Envestnet Inc will post $1.27 EPS for the current year.
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A number of brokerages have issued reports on ENV. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price target on shares of Envestnet in a report on Friday, March 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.90.
In other news, insider Shelly O’brien sold 4,500 shares of Envestnet stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $37.95, for a total value of $170,775.00. Following the transaction, the insider now owns 10,240 shares in the company, valued at $388,608. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President William Crager sold 2,500 shares of Envestnet stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $36.72, for a total value of $91,800.00. Following the completion of the transaction, the president now owns 143,829 shares in the company, valued at approximately $5,281,400.88. The disclosure for this sale can be found here. Insiders have sold 53,355 shares of company stock worth $3,781,122 in the last 90 days. Company insiders own 7.80% of the company’s stock.
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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