Van Berkom & Associates Inc. Sells 87,064 Shares of Envestnet Inc (NYSE:ENV)
Van Berkom & Associates Inc. lowered its stake in Envestnet Inc (NYSE:ENV) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,196,976 shares of the business services provider’s stock after selling 87,064 shares during the period. Envestnet accounts for approximately 2.4% of Van Berkom & Associates Inc.’s holdings, making the stock its 13th biggest holding. Van Berkom & Associates Inc. owned 2.29% of Envestnet worth $81,837,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new stake in Envestnet in the second quarter valued at $27,000. DekaBank Deutsche Girozentrale bought a new stake in Envestnet in the second quarter valued at $34,000. Hudock Capital Group LLC purchased a new position in Envestnet during the second quarter valued at $46,000. Marshall Wace LLP purchased a new position in Envestnet during the first quarter valued at $50,000. Finally, SRS Capital Advisors Inc. purchased a new position in Envestnet during the second quarter valued at $83,000. Institutional investors and hedge funds own 89.44% of the company’s stock.
In other Envestnet news, insider William Crager sold 72,750 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $57.16, for a total value of $4,158,390.00. Following the completion of the transaction, the insider now owns 297,054 shares of the company’s stock, valued at approximately $16,979,606.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anil Arora sold 5,365 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.38, for a total value of $366,858.70. Following the completion of the transaction, the director now directly owns 35,717 shares of the company’s stock, valued at approximately $2,442,328.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,782 shares of company stock valued at $12,119,817. 4.97% of the stock is owned by insiders.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $227.90 million during the quarter, compared to analysts’ expectations of $225.34 million. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. Envestnet’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Research analysts anticipate that Envestnet Inc will post 1.28 earnings per share for the current fiscal year.
Several equities analysts have commented on ENV shares. Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Raymond James raised their price objective on Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 11th. Finally, ValuEngine lowered Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.30.
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 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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