Envestnet, Inc (ENV) Stake Decreased by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lessened its stake in shares of Envestnet, Inc (NYSE:ENV) by 61.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,405 shares of the business services provider’s stock after selling 40,571 shares during the quarter. Goldman Sachs Group Inc. owned about 0.06% of Envestnet worth $1,006,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ENV. D.A. Davidson & CO. lifted its position in shares of Envestnet by 13.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after buying an additional 379 shares during the last quarter. Gradient Investments LLC purchased a new stake in Envestnet in the 2nd quarter valued at $191,000. BNP Paribas Arbitrage SA raised its position in Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares during the last quarter. Amalgamated Bank purchased a new stake in Envestnet in the 2nd quarter valued at $219,000. Finally, Global X Management Co. LLC raised its position in Envestnet by 399.3% in the 2nd quarter. Global X Management Co. LLC now owns 6,002 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.
In other news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $44.45, for a total transaction of $33,159.70. Following the transaction, the director now directly owns 801 shares of the company’s stock, valued at approximately $35,604.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joshua Mayer sold 1,500 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the transaction, the chief operating officer now directly owns 13,796 shares in the company, valued at $602,333.36. The disclosure for this sale can be found here. Insiders sold a total of 42,964 shares of company stock worth $2,171,603 over the last three months. 5.58% of the stock is currently owned by corporate insiders.
Several analysts recently commented on ENV shares. Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Envestnet in a research report on Friday, July 14th. BidaskClub downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. upped their price target on shares of Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.38.
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Envestnet, Inc (NYSE:ENV) opened at $52.85 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market cap of $2,326.46, a price-to-earnings ratio of 74.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.97. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $55.15.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. equities research analysts anticipate that Envestnet, Inc will post 0.89 earnings per share for the current fiscal year.
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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