Stephens Investment Management Group LLC Decreases Holdings in Envestnet, Inc (ENV)
Stephens Investment Management Group LLC reduced its position in shares of Envestnet, Inc (NYSE:ENV) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,349,114 shares of the business services provider’s stock after selling 1,673 shares during the quarter. Envestnet comprises 1.3% of Stephens Investment Management Group LLC’s portfolio, making the stock its 13th largest holding. Stephens Investment Management Group LLC owned about 3.08% of Envestnet worth $53,425,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new position in Envestnet during the 1st quarter valued at $376,000. Parametric Portfolio Associates LLC boosted its stake 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 purchasing an additional 41,761 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Envestnet by 8.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock valued at $65,465,000 after purchasing an additional 133,303 shares in the last quarter. Geneva Advisors LLC boosted its stake in Envestnet by 3.4% during the 2nd quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock valued at $1,689,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Airain ltd bought a new position in Envestnet during the 1st quarter valued at $266,000. 95.51% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Scott D. Grinis sold 15,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total transaction of $588,150.00. Following the completion of the sale, the insider now directly owns 226,454 shares in the company, valued at $8,879,261.34. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $39.80, for a total transaction of $29,690.80. Following the sale, the director now owns 801 shares of the company’s stock, valued at $31,879.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,718 shares of company stock valued at $1,420,284. 5.58% of the stock is currently owned by corporate insiders.
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Envestnet, Inc (NYSE ENV) traded up 1.72% during midday trading on Monday, hitting $44.25. The stock had a trading volume of 77,106 shares. The company’s market cap is $1.95 billion. The stock’s 50-day moving average is $41.92 and its 200-day moving average is $37.53. Envestnet, Inc has a one year low of $30.80 and a one year high of $45.17.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. Envestnet’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Equities analysts predict that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
A number of equities analysts have issued reports on ENV shares. BidaskClub raised Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. William Blair reaffirmed a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. DA Davidson started coverage on Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 price target for the company. Zacks Investment Research raised Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Envestnet in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Envestnet presently has an average rating of “Hold” and an average price target of $45.50.
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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