Envestnet Inc. (ENV) CEO Judson Bergman Sells 20,000 Shares
Envestnet Inc. (NYSE:ENV) CEO Judson Bergman sold 20,000 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $38.33, for a total value of $766,600.00. Following the sale, the chief executive officer now owns 669,106 shares in the company, valued at approximately $25,646,832.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Envestnet Inc. (NYSE:ENV) opened at 37.17 on Thursday. Envestnet Inc. has a 52 week low of $19.30 and a 52 week high of $41.47. The stock’s market cap is $1.59 billion. The stock’s 50 day moving average price is $38.69 and its 200 day moving average price is $34.21.
Envestnet (NYSE:ENV) last announced its earnings results 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 firm earned $141.70 million during the quarter, compared to analysts’ expectations of $139.12 million. Envestnet had a positive return on equity of 4.20% and a negative net margin of 3.95%. The business’s revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, analysts forecast that Envestnet Inc. will post $0.99 earnings per share for the current year.
ENV has been the topic of several recent research reports. JMP Securities restated a “buy” rating and set a $9.50 price target (down previously from $36.00) on shares of Envestnet in a report on Thursday, June 23rd. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Thursday, July 14th. Jefferies Group restated a “buy” rating on shares of Envestnet in a report on Wednesday, August 3rd. Royal Bank Of Canada increased their price target on Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 9th. Finally, Avondale Partners lowered Envestnet from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th. One equities 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 company presently has a consensus rating of “Buy” and a consensus price target of $36.19.
Several hedge funds have recently made changes to their positions in ENV. Schwab Charles Investment Management Inc. boosted its stake in shares of Envestnet by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 131,290 shares of the company’s stock worth $4,374,000 after buying an additional 6,418 shares during the period. Stifel Financial Corp boosted its stake in shares of Envestnet by 6.7% in the second quarter. Stifel Financial Corp now owns 19,391 shares of the company’s stock worth $646,000 after buying an additional 1,223 shares during the period. Legal & General Group Plc boosted its stake in shares of Envestnet by 19.6% in the second quarter. Legal & General Group Plc now owns 10,772 shares of the company’s stock worth $357,000 after buying an additional 1,764 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Envestnet by 7.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 29,730 shares of the company’s stock worth $990,000 after buying an additional 2,058 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Envestnet during the second quarter worth about $459,000.
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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