Envestnet, Inc (NYSE:ENV) President William Crager sold 5,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $53.31, for a total transaction of $266,550.00. Following the transaction, the president now owns 150,555 shares in the company, valued at approximately $8,026,087.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis.
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Several institutional investors and hedge funds have recently made changes to their positions in ENV. Janus Henderson Group PLC lifted its stake in shares of Envestnet by 559.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock valued at $159,101,000 after acquiring an additional 3,408,580 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Envestnet in the 3rd quarter valued at $30,101,000. Royal Bank of Canada lifted its stake in shares of Envestnet by 7,211.3% in the 2nd quarter. Royal Bank of Canada now owns 433,561 shares of the business services provider’s stock valued at $17,169,000 after acquiring an additional 427,631 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in shares of Envestnet by 66.3% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 476,550 shares of the business services provider’s stock valued at $18,871,000 after acquiring an additional 189,905 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Envestnet by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock valued at $136,803,000 after acquiring an additional 188,892 shares during the last quarter. Institutional investors own 95.69% of the company’s stock.
Several equities analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price target (up previously from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. William Blair reiterated an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub cut shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Raymond James Financial, Inc. upped 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.38.
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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