Envestnet Asset Management Inc. cut its position in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 70.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,522 shares of the technology company’s stock after selling 27,767 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Inovalon were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Inovalon by 372.5% during the second quarter. FMR LLC now owns 4,770,907 shares of the technology company’s stock worth $47,351,000 after buying an additional 3,761,107 shares in the last quarter. BlackRock Inc. lifted its stake in Inovalon by 12.0% during the second quarter. BlackRock Inc. now owns 4,717,964 shares of the technology company’s stock worth $46,824,000 after purchasing an additional 505,301 shares during the period. Summit Partners L P bought a new position in Inovalon during the second quarter worth about $34,631,000. Tikvah Management LLC lifted its stake in Inovalon by 97.2% during the first quarter. Tikvah Management LLC now owns 1,963,400 shares of the technology company’s stock worth $20,812,000 after purchasing an additional 968,000 shares during the period. Finally, Senvest Management LLC lifted its stake in Inovalon by 22.6% during the first quarter. Senvest Management LLC now owns 1,274,700 shares of the technology company’s stock worth $13,512,000 after purchasing an additional 235,000 shares during the period. 33.99% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. BidaskClub upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. ValuEngine upgraded shares of Inovalon from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Inovalon from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. Inovalon has a consensus rating of “Hold” and an average target price of $12.67.

Shares of INOV opened at $10.17 on Thursday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.95 and a quick ratio of 1.95. Inovalon Holdings Inc has a 12 month low of $8.90 and a 12 month high of $17.70.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $152.80 million during the quarter, compared to analysts’ expectations of $147.09 million. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. sell-side analysts anticipate that Inovalon Holdings Inc will post 0.28 earnings per share for the current fiscal year.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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