Blueshift Asset Management LLC Takes $229,000 Position in Envestnet Inc (ENV)
Blueshift Asset Management LLC acquired a new stake in Envestnet Inc (NYSE:ENV) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,661 shares of the business services provider’s stock, valued at approximately $229,000.
Several other large investors also recently added to or reduced their stakes in ENV. Hartford Financial Management Inc. bought a new stake in shares of Envestnet in the 4th quarter valued at $49,000. Advisors Asset Management Inc. bought a new stake in shares of Envestnet in the 4th quarter valued at $58,000. Bank of Montreal Can increased its stake in shares of Envestnet by 23.5% in the 4th quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 268 shares in the last quarter. Strs Ohio increased its stake in shares of Envestnet by 15.8% in the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 300 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Envestnet by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,104 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 320 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.
Shares of ENV stock opened at $64.48 on Friday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 51.58, a price-to-earnings-growth ratio of 2.56 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.11 and a quick ratio of 1.11. Envestnet Inc has a 12 month low of $46.57 and a 12 month high of $65.33.
ENV has been the subject of several research analyst reports. Buckingham Research initiated coverage on shares of Envestnet in a research note on Thursday, January 10th. They issued a “buy” rating and a $63.00 price objective for the company. Raymond James lowered their price objective on shares of Envestnet from $71.00 to $60.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 3rd. DA Davidson decreased their price target on shares of Envestnet to $58.00 and set a “buy” rating for the company in a research note on Friday, January 4th. Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.22.
In other Envestnet news, insider Anil Arora sold 567 shares of Envestnet stock in a transaction on Friday, February 1st. The shares were sold at an average price of $54.74, for a total transaction of $31,037.58. Following the transaction, the insider now directly owns 64,745 shares of the company’s stock, valued at approximately $3,544,141.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joshua Mayer sold 1,162 shares of Envestnet stock in a transaction on Friday, March 1st. The stock was sold at an average price of $61.15, for a total transaction of $71,056.30. Following the transaction, the chief operating officer now directly owns 36,222 shares in the company, valued at $2,214,975.30. The disclosure for this sale can be found here. Insiders have sold a total of 9,462 shares of company stock valued at $521,883 in the last 90 days. 5.49% of the stock is currently owned by company insiders.
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Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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