Nisa Investment Advisors LLC Has $489,000 Stake in Envestnet, Inc (NYSE:ENV)
Nisa Investment Advisors LLC increased its stake in Envestnet, Inc (NYSE:ENV) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 13,610 shares of the business services provider’s stock after buying an additional 200 shares during the period. Nisa Investment Advisors LLC’s holdings in Envestnet were worth $489,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blueport Capital L.P. boosted its position in Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after buying an additional 2,574 shares during the last quarter. Ashford Capital Management Inc. boosted its position in Envestnet by 0.3% in the first quarter. Ashford Capital Management Inc. now owns 234,429 shares of the business services provider’s stock valued at $7,572,000 after buying an additional 668 shares during the last quarter. HighTower Advisors LLC boosted its position in Envestnet by 41.9% in the first quarter. HighTower Advisors LLC now owns 75,172 shares of the business services provider’s stock valued at $2,430,000 after buying an additional 22,183 shares during the last quarter. Jane Street Group LLC bought a new position in Envestnet during the first quarter valued at approximately $376,000. Finally, Paloma Partners Management Co bought a new position in Envestnet during the first quarter valued at approximately $1,511,000. 99.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Envestnet, Inc (NYSE:ENV) remained flat at $42.95 during mid-day trading on Friday. The stock had a trading volume of 114,075 shares. The stock’s market capitalization is $1.88 billion. Envestnet, Inc has a 12-month low of $30.80 and a 12-month high of $45.18. The company’s 50 day moving average price is $39.17 and its 200-day moving average price is $36.73.
Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Envestnet had a positive return on equity of 7.72% and a negative net margin of 8.93%. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. During the same period in the prior year, the business earned $0.21 EPS. The business’s revenue was up 18.0% on a year-over-year basis. On average, analysts expect that Envestnet, Inc will post $1.27 earnings per share for the current year.
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Several research firms recently commented on ENV. Stifel Nicolaus reissued a “buy” rating and set a $52.00 target price (up from $45.00) on shares of Envestnet in a research note on Thursday. Raymond James Financial, Inc. boosted their target price on Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub cut Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 target price on shares of Envestnet in a research note on Friday, July 14th. Finally, Zacks Investment Research raised Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $45.50.
In other news, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $39.20, for a total transaction of $29,243.20. Following the sale, the director now owns 801 shares of the company’s stock, valued at $31,399.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Roame purchased 1,473 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $35.38 per share, for a total transaction of $52,114.74. Following the acquisition, the director now owns 1,729 shares of the company’s stock, valued at approximately $61,172.02. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,968 shares of company stock worth $145,287 and sold 32,972 shares worth $1,300,284. Company insiders own 7.80% of the company’s stock.
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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