TRUE Private Wealth Advisors acquired a new position in shares of Envestnet Inc (NYSE:ENV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,778 shares of the business services provider’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in Envestnet in the 3rd quarter worth approximately $136,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Envestnet in the 2nd quarter worth approximately $203,000. Zions Bancorporation purchased a new stake in Envestnet in the 2nd quarter worth approximately $207,000. D.A. Davidson & CO. purchased a new stake in Envestnet in the 2nd quarter worth approximately $213,000. Finally, Keybank National Association OH purchased a new stake in Envestnet in the 2nd quarter worth approximately $236,000. 96.28% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on ENV shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Envestnet in a research note on Wednesday, July 18th. TheStreet raised shares of Envestnet from a “c+” rating to a “b-” rating in a research note on Monday, July 16th. Zacks Investment Research raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. UBS Group lifted their target price on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, DA Davidson lifted their target price on shares of Envestnet to $56.00 and gave the stock an “average” rating in a research note on Thursday, July 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Envestnet presently has a consensus rating of “Buy” and a consensus price target of $63.50.

In other Envestnet news, insider Anil Arora sold 9,900 shares of Envestnet stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $59.80, for a total value of $592,020.00. Following the transaction, the insider now owns 86,563 shares in the company, valued at approximately $5,176,467.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Judson Bergman sold 25,000 shares of Envestnet stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $59.04, for a total transaction of $1,476,000.00. Following the completion of the transaction, the chief executive officer now owns 730,673 shares in the company, valued at approximately $43,138,933.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,196 shares of company stock worth $4,108,654. 7.80% of the stock is owned by company insiders.

ENV stock opened at $55.54 on Friday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 55.51, a PEG ratio of 3.19 and a beta of 1.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41. Envestnet Inc has a one year low of $47.45 and a one year high of $64.80.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The company had revenue of $201.12 million for the quarter, compared to analyst estimates of $199.52 million. Envestnet had a net margin of 2.50% and a return on equity of 10.75%. As a group, sell-side analysts expect that Envestnet Inc will post 1.25 EPS for the current year.

Envestnet Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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