Insider Selling: Envestnet Inc. (ENV) CEO Sells 7,541 Shares of Stock
Envestnet Inc. (NYSE:ENV) CEO Judson Bergman sold 7,541 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $36.95, for a total transaction of $278,639.95. Following the completion of the transaction, the chief executive officer now directly owns 656,635 shares of the company’s stock, valued at approximately $24,262,663.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Judson Bergman also recently made the following trade(s):
- On Monday, October 3rd, Judson Bergman sold 20,000 shares of Envestnet stock. The stock was sold at an average price of $36.28, for a total transaction of $725,600.00.
- On Monday, September 26th, Judson Bergman sold 20,000 shares of Envestnet stock. The stock was sold at an average price of $38.33, for a total transaction of $766,600.00.
Envestnet Inc. (NYSE:ENV) opened at 36.00 on Wednesday. The company’s market cap is $1.54 billion. The company has a 50 day moving average of $38.17 and a 200-day moving average of $34.96. Envestnet Inc. has a one year low of $19.30 and a one year high of $41.47.
Envestnet (NYSE:ENV) last released its earnings results on Monday, August 8th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business earned $141.70 million during 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 company’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities analysts expect that Envestnet Inc. will post $0.99 earnings per share for the current fiscal year.
ENV has been the subject of several research reports. JMP Securities reissued a “buy” rating and set a $9.50 price objective (down previously from $36.00) on shares of Envestnet in a report on Thursday, June 23rd. 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. Jefferies Group reissued a “buy” rating on shares of Envestnet in a report on Wednesday, August 3rd. Royal Bank Of Canada increased their price objective on shares of 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 downgraded shares of Envestnet from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th. 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’s stock. The stock has an average rating of “Buy” and an average price target of $36.19.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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. BNP Paribas Arbitrage SA boosted its stake in Envestnet by 113.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the company’s stock worth $126,000 after buying an additional 1,835 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in 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 bought a new stake in Envestnet during the second quarter worth approximately $209,000. Finally, 1st Global Advisors Inc. acquired a new position in Envestnet during the second quarter worth $214,000.
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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