Envestnet Inc. (NYSE:ENV) Receives $35.50 Average PT from Brokerages
Envestnet Inc. (NYSE:ENV) has been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.50.
A number of brokerages have weighed in on ENV. RBC Capital Markets restated a “sector perform” rating and issued a $40.00 target price (up previously from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. Jefferies Group set a $48.00 target price on shares of Envestnet and gave the company a “buy” rating in a research report on Tuesday, August 16th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Royal Bank Of Canada raised their target price on shares of Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. Finally, JMP Securities restated a “buy” rating and issued a $9.50 target price (down previously from $36.00) on shares of Envestnet in a research report on Thursday, June 23rd.
In related news, insider Scott D. Grinis sold 12,000 shares of Envestnet stock in a transaction 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 completion of the transaction, the insider now owns 222,668 shares of the company’s stock, valued at $8,719,678.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shelly O’brien sold 3,500 shares of Envestnet stock in a transaction on Friday, July 1st. The stock was sold at an average price of $33.64, for a total transaction of $117,740.00. Following the transaction, the insider now directly owns 9,240 shares of the company’s stock, valued at approximately $310,833.60. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock worth $111,000 after buying an additional 2,865 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Envestnet by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,343 shares of the company’s stock worth $178,000 after buying an additional 638 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Envestnet during the second quarter worth $209,000. 1st Global Advisors Inc. purchased a new position in shares of Envestnet during the second quarter worth $214,000. Finally, Princeton Alpha Management LP purchased a new position in shares of Envestnet during the second quarter worth $246,000.
Shares of Envestnet (NYSE:ENV) opened at 37.86 on Friday. The company’s market cap is $1.62 billion. Envestnet has a 52-week low of $19.30 and a 52-week high of $41.47. The company has a 50 day moving average of $38.69 and a 200-day moving average of $34.19.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $139.12 million. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Analysts forecast that Envestnet will post $0.99 EPS for the current fiscal year.
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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