Envestnet Inc (NYSE:ENV) shares reached a new 52-week high on Friday . The stock traded as high as $59.20 and last traded at $59.10, with a volume of 174985 shares changing hands. The stock had previously closed at $57.85.
Several research firms have recently weighed in on ENV. UBS Group decreased their price objective on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $55.00.
The firm has a market cap of $2,587.33, a price-to-earnings ratio of -594.94, a price-to-earnings-growth ratio of 2.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.93.
In other Envestnet news, insider Anil Arora sold 557 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $57.40, for a total transaction of $31,971.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joshua Mayer sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $49.75, for a total transaction of $99,500.00. Following the sale, the chief operating officer now directly owns 50,407 shares of the company’s stock, valued at $2,507,748.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,116 shares of company stock valued at $4,476,226. 7.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ENV. State Street Corp increased its holdings in Envestnet by 7.1% during the second quarter. State Street Corp now owns 794,155 shares of the business services provider’s stock valued at $31,449,000 after buying an additional 52,546 shares during the last quarter. Nationwide Fund Advisors increased its holdings in Envestnet by 45.7% during the third quarter. Nationwide Fund Advisors now owns 397,559 shares of the business services provider’s stock valued at $20,276,000 after buying an additional 124,733 shares during the last quarter. First Trust Advisors LP increased its holdings in Envestnet by 193.9% during the third quarter. First Trust Advisors LP now owns 52,896 shares of the business services provider’s stock valued at $2,698,000 after buying an additional 34,897 shares during the last quarter. American Century Companies Inc. purchased a new stake in Envestnet during the third quarter valued at approximately $2,505,000. Finally, Prudential Financial Inc. increased its holdings in Envestnet by 287.1% during the third quarter. Prudential Financial Inc. now owns 165,204 shares of the business services provider’s stock valued at $8,426,000 after buying an additional 122,530 shares during the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.
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Envestnet Company Profile
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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