Envestnet, Inc (ENV) Insider Sells $465,772.32 in Stock
Envestnet, Inc (NYSE:ENV) insider Scott D. Grinis sold 9,308 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $50.04, for a total value of $465,772.32. Following the completion of the transaction, the insider now directly owns 209,708 shares in the company, valued at $10,493,788.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Envestnet, Inc (NYSE ENV) opened at 53.60 on Thursday. The stock’s 50 day moving average price is $46.38 and its 200-day moving average price is $39.14. The stock’s market capitalization is $2.36 billion. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $53.85.
Envestnet (NYSE:ENV) last issued 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). Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts expect that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Envestnet by 13.0% in the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after buying an additional 379 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Envestnet in the first quarter worth about $116,000. Parallel Advisors LLC purchased a new stake in shares of Envestnet in the first quarter worth about $131,000. Gradient Investments LLC purchased a new stake in shares of Envestnet in the second quarter worth about $191,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Envestnet by 525.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after buying an additional 4,328 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
A number of research firms have recently weighed in on ENV. Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research report on Tuesday. William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $52.00 price objective on shares of Envestnet in a research report on Tuesday, September 26th. JMP Securities lifted their price objective on Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Envestnet in a research report on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Envestnet has an average rating of “Buy” and a consensus price target of $47.00.
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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