Rhumbline Advisers Purchases 1,237 Shares of Envestnet, Inc (ENV)
Rhumbline Advisers grew its position in shares of Envestnet, Inc (NYSE:ENV) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,423 shares of the business services provider’s stock after purchasing an additional 1,237 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Envestnet worth $1,957,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Envestnet by 4.8% during the first quarter. Vanguard Group Inc. now owns 3,265,731 shares of the business services provider’s stock valued at $105,483,000 after purchasing an additional 150,179 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock worth $72,191,000 after acquiring an additional 275,955 shares during the period. Van Berkom & Associates Inc. lifted its stake in shares of Envestnet by 8.8% in the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after acquiring an additional 133,303 shares during the period. DF Dent & Co. Inc. lifted its stake in shares of Envestnet by 6.0% in the first quarter. DF Dent & Co. Inc. now owns 1,508,842 shares of the business services provider’s stock worth $48,736,000 after acquiring an additional 84,876 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Envestnet by 11.9% in the first quarter. Stephens Investment Management Group LLC now owns 1,350,787 shares of the business services provider’s stock worth $43,630,000 after acquiring an additional 143,692 shares during the period. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on ENV shares. Stifel Nicolaus reaffirmed 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. Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Raymond James Financial, Inc. lifted their price objective on Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. DA Davidson started coverage on Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price objective on the stock. Finally, William Blair reaffirmed a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $45.50.
In related news, Director Gayle A. Crowell sold 746 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was 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 in the company, valued at approximately $35,604.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Grinis sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $39.21, for a total value of $588,150.00. Following the transaction, the insider now owns 226,454 shares in the company, valued at $8,879,261.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,718 shares of company stock worth $1,420,284. 7.80% of the stock is owned by corporate insiders.
Envestnet, Inc (ENV) opened at 47.10 on Friday. The firm’s market capitalization is $2.07 billion. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $47.25. The company has a 50 day moving average price of $42.78 and a 200-day moving average price of $37.81.
Envestnet (NYSE:ENV) last posted its quarterly earnings results 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). Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $164.04 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. Envestnet’s revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
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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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