Shelly O’brien Sells 2,000 Shares of Envestnet, Inc (ENV) Stock
Envestnet, Inc (NYSE:ENV) insider Shelly O’brien sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.96, for a total value of $99,920.00. Following the completion of the sale, the insider now owns 15,292 shares of the company’s stock, valued at approximately $763,988.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Envestnet, Inc (ENV) opened at 51.00 on Friday. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $51.15. The stock’s market cap is $2.25 billion. The firm has a 50-day moving average price of $43.29 and a 200-day moving average price of $37.95.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company 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 last year, the firm earned $0.21 EPS. Equities analysts forecast that Envestnet, Inc will post $1.29 EPS for the current year.
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Several hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Envestnet in the 1st quarter valued at about $116,000. D.A. Davidson & CO. increased its stake in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Envestnet in the 1st quarter valued at about $131,000. Gradient Investments LLC purchased a new position in shares of Envestnet in the 2nd quarter valued at about $191,000. Finally, Blueport Capital L.P. increased its stake in shares of Envestnet by 69.9% in the 1st quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 2,574 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the company. William Blair restated an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. JMP Securities upped their price target on Envestnet from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price target on shares of Envestnet in a research report on Tuesday, September 26th. Royal Bank Of Canada restated a “hold” rating on shares of Envestnet in a research report on Monday, September 11th. Finally, Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Envestnet has a consensus rating of “Hold” and a consensus price target of $47.00.
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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