Envestnet Inc. (ENV) Insider Sells $469,920.00 in Stock
Envestnet Inc. (NYSE:ENV) insider Scott D. Grinis sold 12,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $39.16, for a total transaction of $469,920.00. Following the sale, the insider now directly owns 222,668 shares of the company’s stock, valued at $8,719,678.88. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Envestnet Inc. (NYSE:ENV) opened at 37.86 on Wednesday. The company has a 50-day moving average price of $38.69 and a 200-day moving average price of $34.19. The company’s market capitalization is $1.62 billion. Envestnet Inc. has a 12 month low of $19.30 and a 12 month high of $41.47.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Envestnet had a positive return on equity of 4.20% and a negative net margin of 3.95%. The company earned $141.70 million during the quarter, compared to the consensus estimate of $139.12 million. During the same period in the previous year, the company posted $0.24 earnings per share. Envestnet’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, analysts forecast that Envestnet Inc. will post $0.99 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. 1st Global Advisors Inc. bought a new position in shares of Envestnet during the second quarter worth about $214,000. Van Berkom & Associates Inc. increased its position in shares of Envestnet by 95.0% in the second quarter. Van Berkom & Associates Inc. now owns 736,303 shares of the company’s stock worth $24,526,000 after buying an additional 358,661 shares during the last quarter. Barclays PLC increased its position in shares of Envestnet by 280.0% in the first quarter. Barclays PLC now owns 55,816 shares of the company’s stock worth $1,507,000 after buying an additional 41,127 shares during the last quarter. Legal & General Group Plc increased its position in shares of Envestnet by 30.1% in the first quarter. Legal & General Group Plc now owns 9,008 shares of the company’s stock worth $247,000 after buying an additional 2,083 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Envestnet during the first quarter worth about $1,207,000.
A number of brokerages have issued reports on ENV. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Thursday, July 14th. Avondale Partners downgraded Envestnet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. JMP Securities reiterated a “buy” rating and set a $9.50 target price (down from $36.00) on shares of Envestnet in a research report on Thursday, June 23rd. Royal Bank Of Canada increased their target price on Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 target price (up from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $36.19.
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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