Swiss National Bank Acquires 1,100 Shares of Envestnet Inc. (ENV)
Swiss National Bank raised its position in Envestnet Inc. (NYSE:ENV) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 63,100 shares of the company’s stock after buying an additional 1,100 shares during the period. Swiss National Bank owned about 0.15% of Envestnet worth $2,102,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new stake in shares of Envestnet during the first quarter valued at approximately $1,207,000. Mariner Wealth Advisors LLC increased its stake in shares of Envestnet by 1.2% in the first quarter. Mariner Wealth Advisors LLC now owns 10,052 shares of the company’s stock valued at $273,000 after buying an additional 119 shares during the period. Geode Capital Management LLC increased its stake in shares of Envestnet by 5.6% in the first quarter. Geode Capital Management LLC now owns 239,933 shares of the company’s stock valued at $6,526,000 after buying an additional 12,758 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Envestnet by 347.1% in the first quarter. Goldman Sachs Group Inc. now owns 78,914 shares of the company’s stock valued at $2,146,000 after buying an additional 61,262 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Envestnet by 34.4% in the first quarter. UBS Asset Management Americas Inc. now owns 16,400 shares of the company’s stock valued at $446,000 after buying an additional 4,200 shares during the period.
Shares of Envestnet Inc. (NYSE:ENV) traded up 0.89% during trading on Monday, hitting $37.25. 376,666 shares of the stock traded hands. The firm’s market cap is $1.59 billion. Envestnet Inc. has a 52-week low of $19.30 and a 52-week high of $41.47. The stock has a 50 day moving average of $39.01 and a 200 day moving average of $33.06.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm earned $141.70 million during the quarter, compared to the consensus estimate of $139.12 million. Envestnet had a positive return on equity of 4.20% and a negative net margin of 3.95%. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts expect that Envestnet Inc. will post $0.99 EPS for the current year.
Several analysts recently commented on ENV shares. Zacks Investment Research downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Friday, August 19th. Jefferies Group set a $48.00 price objective on shares of Envestnet and gave the company a “buy” rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and set a $40.00 price objective (up from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. Royal Bank Of Canada increased their price objective on shares of Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. Finally, JMP Securities reissued a “buy” rating and set a $9.50 price objective (down from $36.00) on shares of Envestnet in a research report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Envestnet presently has a consensus rating of “Buy” and a consensus target price of $36.19.
In other Envestnet news, insider Shelly O’brien sold 5,500 shares of Envestnet stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $39.72, for a total value of $218,460.00. Following the transaction, the insider now owns 10,240 shares in the company, valued at $406,732.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anil Arora sold 1,750 shares of Envestnet stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $37.50, for a total value of $65,625.00. Following the completion of the transaction, the director now owns 92,114 shares in the company, valued at approximately $3,454,275. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
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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