Matthew Majoros Sells 500 Shares of Envestnet, Inc (ENV) Stock
Envestnet, Inc (NYSE:ENV) insider Matthew Majoros sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $42.70, for a total value of $21,350.00. Following the completion of the transaction, the insider now owns 5,436 shares in the company, valued at approximately $232,117.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Envestnet, Inc (ENV) traded down 0.56% during trading on Friday, reaching $44.20. The company had a trading volume of 236,280 shares. The firm’s market capitalization is $1.95 billion. The firm’s 50 day moving average price is $41.25 and its 200 day moving average price is $37.39. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $45.18.
Envestnet (NYSE:ENV) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. Envestnet’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. Equities analysts predict that Envestnet, Inc will post $1.29 EPS for the current year.
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ENV has been the topic of several research reports. DA Davidson initiated coverage on Envestnet in a research report on Thursday, July 6th. They issued a “neutral” rating and a $42.00 target price on the stock. Zacks Investment Research upgraded Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price objective on shares of Envestnet in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. Finally, BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.50.
A number of large investors have recently made changes to their positions in the stock. Airain ltd acquired a new stake in Envestnet during the 1st quarter valued at $266,000. Trexquant Investment LP acquired a new stake in Envestnet during the 1st quarter valued at $1,486,000. Pioneer Investment Management Inc. acquired a new stake in Envestnet during the 1st quarter valued at $2,807,000. Parametric Portfolio Associates LLC grew its holdings in Envestnet by 116.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock valued at $2,506,000 after buying an additional 41,761 shares during the last quarter. Finally, CI Investments Inc. acquired a new stake in Envestnet during the 1st quarter valued at $194,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.
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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