Envestnet (NYSE:ENV) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a report issued on Monday.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. JMP Securities reissued a market outperform rating and issued a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. William Blair reissued an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James raised their price target on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a report on Tuesday, April 2nd. Finally, DA Davidson raised their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Envestnet currently has an average rating of Moderate Buy and a consensus price target of $63.67.

Envestnet Stock Performance

Shares of ENV stock opened at $62.29 on Monday. Envestnet has a 12 month low of $33.12 and a 12 month high of $68.83. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $3.41 billion, a P/E ratio of -14.16 and a beta of 1.31. The firm’s 50 day moving average is $55.46 and its 200 day moving average is $48.34.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. On average, sell-side analysts anticipate that Envestnet will post 1.78 earnings per share for the current year.

Insider Transactions at Envestnet

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in Envestnet during the 3rd quarter valued at about $45,000. Quest Partners LLC purchased a new position in Envestnet in the fourth quarter worth about $58,000. PNC Financial Services Group Inc. raised its holdings in Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after buying an additional 802 shares during the last quarter. Argent Capital Management LLC raised its holdings in Envestnet by 32.7% in the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after buying an additional 1,274 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Envestnet in the fourth quarter worth about $236,000.

Envestnet Company Profile

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.