Meadow Creek Investment Management LLC decreased its position in shares of Envestnet Inc (NYSE:ENV) by 33.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,716 shares of the business services provider’s stock after selling 12,012 shares during the period. Meadow Creek Investment Management LLC owned 0.05% of Envestnet worth $1,182,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ENV. Atlanta Capital Management Co. L L C bought a new stake in Envestnet during the third quarter worth approximately $22,763,000. Renaissance Technologies LLC raised its holdings in Envestnet by 96.3% during the fourth quarter. Renaissance Technologies LLC now owns 321,192 shares of the business services provider’s stock worth $16,011,000 after purchasing an additional 157,600 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Envestnet by 193.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 221,805 shares of the business services provider’s stock worth $11,057,000 after purchasing an additional 146,117 shares in the last quarter. Nationwide Fund Advisors raised 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 worth $20,276,000 after purchasing an additional 124,733 shares in the last quarter. Finally, Prudential Financial Inc. raised 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 worth $8,426,000 after purchasing an additional 122,530 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Envestnet news, insider Anil Arora sold 10,000 shares of Envestnet stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $53.88, for a total transaction of $538,800.00. Following the transaction, the insider now directly owns 110,731 shares in the company, valued at approximately $5,966,186.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joshua Mayer sold 6,743 shares of Envestnet stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $57.88, for a total transaction of $390,284.84. Following the transaction, the chief operating officer now owns 49,089 shares in the company, valued at $2,841,271.32. The disclosure for this sale can be found here. Insiders sold 67,202 shares of company stock worth $3,587,267 in the last ninety days. 5.58% of the stock is owned by corporate insiders.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $182.86 million for the quarter, compared to analysts’ expectations of $179.20 million. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. equities research analysts forecast that Envestnet Inc will post 1.31 EPS for the current fiscal year.
Separately, Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.00.
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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