Renaissance Technologies LLC acquired a new position in Envestnet, Inc (NYSE:ENV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 62,492 shares of the business services provider’s stock, valued at approximately $2,018,000. Renaissance Technologies LLC owned approximately 0.14% of Envestnet as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of Envestnet by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 67,770 shares of the business services provider’s stock worth $2,389,000 after buying an additional 741 shares during the last quarter. American International Group Inc. raised its position in shares of Envestnet by 5.3% in the first quarter. American International Group Inc. now owns 25,094 shares of the business services provider’s stock worth $811,000 after buying an additional 1,270 shares during the last quarter. Geneva Advisors LLC raised its position in shares of Envestnet by 3.2% in the first quarter. Geneva Advisors LLC now owns 41,274 shares of the business services provider’s stock worth $1,333,000 after buying an additional 1,274 shares during the last quarter. Whetstone Capital Advisors LLC raised its position in shares of Envestnet by 0.4% in the first quarter. Whetstone Capital Advisors LLC now owns 343,026 shares of the business services provider’s stock worth $11,080,000 after buying an additional 1,500 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its position in shares of Envestnet by 26.5% in the first quarter. 1st Global Advisors Inc. now owns 8,719 shares of the business services provider’s stock worth $282,000 after buying an additional 1,827 shares during the last quarter.
Shares of Envestnet, Inc (NYSE ENV) traded down 1.03% during midday trading on Friday, reaching $43.10. 64,932 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $39.82 and its 200 day moving average is $36.95. The firm’s market cap is $1.90 billion. Envestnet, Inc has a one year low of $30.80 and a one year high of $45.17.
Envestnet (NYSE:ENV) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. Envestnet’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the business earned $0.21 earnings per share. Analysts anticipate that Envestnet, Inc will post $1.29 EPS for the current year.
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A number of equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price objective (up from $45.00) on shares of Envestnet in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Monday. Raymond James Financial, Inc. boosted their price objective on shares of Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, DA Davidson assumed coverage on shares of Envestnet in a report on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.50.
In other news, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,976 shares in the company, valued at $783,059.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Roame acquired 1,473 shares of the stock in a transaction dated Wednesday, May 31st. The shares were bought at an average price of $35.38 per share, with a total value of $52,114.74. Following the completion of the purchase, the director now directly owns 1,729 shares of the company’s stock, valued at approximately $61,172.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,949 shares of company stock valued at $146,288 and sold 32,972 shares valued at $1,300,284. 7.80% of the stock is owned by company insiders.
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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