Envestnet Inc (NYSE:ENV) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,900,000 shares, a decline of 17.4% from the January 15th total of 2,300,000 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average trading volume of 372,200 shares, the days-to-cover ratio is currently 5.1 days.

NYSE ENV traded up $1.11 during trading hours on Friday, hitting $86.60. 175,993 shares of the company’s stock traded hands, compared to its average volume of 389,042. The business’s fifty day moving average price is $75.13 and its two-hundred day moving average price is $65.83. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $4.35 billion, a P/E ratio of -206.19 and a beta of 1.78. Envestnet has a 52 week low of $51.00 and a 52 week high of $86.66.

A number of analysts have recently commented on ENV shares. Sandler O’Neill upgraded shares of Envestnet from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research note on Wednesday, November 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of Envestnet in a research note on Monday, February 3rd. Finally, DA Davidson lifted their price target on shares of Envestnet from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $76.70.

In other news, insider Matthew Majoros sold 1,400 shares of Envestnet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $70.72, for a total value of $99,008.00. Following the completion of the sale, the insider now directly owns 12,457 shares in the company, valued at $880,959.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Scott D. Grinis sold 15,000 shares of Envestnet stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $72.01, for a total transaction of $1,080,150.00. Following the completion of the sale, the chief technology officer now owns 60,790 shares of the company’s stock, valued at $4,377,487.90. The disclosure for this sale can be found here. Insiders sold 212,648 shares of company stock valued at $15,102,903 over the last quarter. Company insiders own 4.97% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Allied Advisory Services Inc. bought a new stake in Envestnet during the third quarter valued at approximately $248,000. York Capital Management Global Advisors LLC purchased a new position in Envestnet during the third quarter valued at approximately $22,701,000. California Public Employees Retirement System lifted its holdings in Envestnet by 121.8% during the third quarter. California Public Employees Retirement System now owns 102,079 shares of the business services provider’s stock valued at $5,788,000 after purchasing an additional 56,052 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in Envestnet during the fourth quarter valued at approximately $1,113,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in Envestnet by 8.3% during the third quarter. Metropolitan Life Insurance Co NY now owns 15,338 shares of the business services provider’s stock valued at $870,000 after purchasing an additional 1,170 shares in the last quarter. Institutional investors own 96.21% of the company’s stock.

About Envestnet

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 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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