Envestnet, Inc (NYSE:ENV)‘s stock had its “hold” rating reissued by stock analysts at Royal Bank Of Canada in a research report issued on Monday.
Other equities research analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price objective (up from $45.00) on shares of Envestnet in a research note on Thursday, August 10th. BidaskClub lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Raymond James Financial, Inc. increased their price target on Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, DA Davidson initiated coverage on Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Envestnet currently has an average rating of “Hold” and an average target price of $45.50.
Envestnet (NYSE ENV) traded up 0.92% during midday trading on Monday, reaching $43.90. The company’s stock had a trading volume of 56,851 shares. The firm’s market cap is $1.93 billion. The firm has a 50 day moving average of $41.92 and a 200 day moving average of $37.53. Envestnet has a 52-week low of $30.80 and a 52-week high of $45.17.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. Analysts anticipate that Envestnet will post $1.29 earnings per share for the current fiscal year.
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In related news, insider Scott D. Grinis sold 15,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the transaction, the insider now owns 226,454 shares of the company’s stock, valued at approximately $8,879,261.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter D’arrigo sold 7,500 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,718 shares of company stock valued at $1,420,284. Company insiders own 5.58% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in shares of Envestnet in the 1st quarter valued at about $116,000. D.A. Davidson & CO. lifted its holdings in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 379 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Envestnet in the 1st quarter valued at about $131,000. Gradient Investments LLC bought a new position in shares of Envestnet in the 2nd quarter valued at about $191,000. Finally, Blueport Capital L.P. lifted its holdings in shares of Envestnet by 69.9% in the 1st quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after acquiring an additional 2,574 shares during the last quarter. 95.51% of the stock is 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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