Weekly Analysts’ Ratings Updates for Envestnet (ENV)

Envestnet (NYSE: ENV) recently received a number of ratings updates from brokerages and research firms:

• 4/17/2024 – Envestnet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $79.00 price target on the stock.
• 4/9/2024 – Envestnet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $79.00 price target on the stock.
• 4/2/2024 – Envestnet had its price target raised by analysts at Raymond James from $52.00 to $60.00. They now have an “outperform” rating on the stock.
• 4/2/2024 – Envestnet had its price target raised by analysts at DA Davidson from $62.00 to $67.00. They now have a “buy” rating on the stock.
• 3/27/2024 – Envestnet had its “outperform” rating reaffirmed by analysts at William Blair.
• 3/25/2024 – Envestnet was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 2/23/2024 – Envestnet had its price target raised by analysts at Royal Bank of Canada from $47.00 to $56.00. They now have a “sector perform” rating on the stock.
• 2/23/2024 – Envestnet had its price target raised by analysts at JPMorgan Chase & Co. from $44.00 to $45.00. They now have a “neutral” rating on the stock.

Envestnet Stock Performance

NYSE:ENV traded up $0.02 during mid-day trading on Thursday, hitting $62.22. 914,670 shares of the company traded hands, compared to its average volume of 501,349. The stock’s fifty day moving average price is $54.61 and its 200-day moving average price is $47.67. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -14.24 and a beta of 1.31.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Research analysts anticipate that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Envestnet

In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Envestnet

Several hedge funds and other institutional investors have recently modified their holdings of ENV. Hsbc Holdings PLC raised its holdings in shares of Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after buying an additional 1,816,020 shares during the period. Vanguard Group Inc. raised its holdings in shares of Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after buying an additional 687,202 shares during the period. Norges Bank purchased a new stake in shares of Envestnet in the fourth quarter worth approximately $25,319,000. Schroder Investment Management Group purchased a new stake in shares of Envestnet in the fourth quarter worth approximately $21,829,000. Finally, Van Berkom & Associates Inc. raised its holdings in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after buying an additional 438,994 shares during the period.

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.