Envestnet, Inc (ENV) Insider Shelly O’brien Sells 2,000 Shares of Stock
Envestnet, Inc (NYSE:ENV) insider Shelly O’brien sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $49.96, for a total transaction of $99,920.00. Following the sale, the insider now owns 15,292 shares in the company, valued at $763,988.32. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Envestnet, Inc (NYSE ENV) traded up 2.10% during midday trading on Friday, reaching $51.00. 281,220 shares of the company traded hands. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $51.15. The stock’s market capitalization is $2.25 billion. The company’s 50 day moving average is $43.29 and its 200-day moving average is $37.95.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business 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%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Equities research analysts forecast that Envestnet, Inc will post $1.29 earnings per share for the current fiscal year.
ENV has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $52.00 target price (up from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Raymond James Financial, Inc. upped their target price on shares of Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. DA Davidson initiated coverage on shares of Envestnet in a research report on Thursday, July 6th. They set a “neutral” rating and a $42.00 target price on the stock. Finally, William Blair restated a “buy” rating on shares of Envestnet in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Envestnet presently has a consensus rating of “Hold” and a consensus target price of $47.00.
A number of hedge funds have recently made changes to their positions in ENV. Janus Henderson Group PLC lifted its position in Envestnet by 559.6% during the second quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock valued at $159,101,000 after buying an additional 3,408,580 shares in the last quarter. Royal Bank of Canada lifted its position in Envestnet by 7,211.3% during the second quarter. Royal Bank of Canada now owns 433,561 shares of the business services provider’s stock valued at $17,169,000 after buying an additional 427,631 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in Envestnet during the first quarter valued at approximately $9,435,000. TimesSquare Capital Management LLC lifted its position in Envestnet by 14.1% during the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock valued at $72,191,000 after buying an additional 275,955 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in Envestnet by 66.3% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 476,550 shares of the business services provider’s stock valued at $18,871,000 after buying an additional 189,905 shares in the last quarter. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
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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