Stephens Inc. AR lowered its stake in shares of Envestnet Inc (NYSE:ENV) by 8.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,920 shares of the business services provider’s stock after selling 846 shares during the quarter. Stephens Inc. AR’s holdings in Envestnet were worth $610,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ENV. TRUE Private Wealth Advisors bought a new stake in shares of Envestnet in the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Envestnet in the second quarter valued at approximately $34,000. Hudock Capital Group LLC bought a new stake in shares of Envestnet in the second quarter valued at approximately $46,000. Marshall Wace LLP bought a new stake in shares of Envestnet in the first quarter valued at approximately $50,000. Finally, Pittenger & Anderson Inc. boosted its position in shares of Envestnet by 37.5% in the first quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 375 shares during the period. 88.09% of the stock is owned by hedge funds and other institutional investors.
Envestnet stock opened at $57.69 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a fifty day moving average price of $67.03 and a two-hundred day moving average price of $65.91. Envestnet Inc has a 52-week low of $46.57 and a 52-week high of $73.94. The firm has a market capitalization of $2.97 billion, a P/E ratio of 46.15, a P/E/G ratio of 2.53 and a beta of 1.67.
In other Envestnet news, Director Anil Arora sold 2,261 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $66.79, for a total transaction of $151,012.19. Following the completion of the transaction, the director now directly owns 40,706 shares in the company, valued at $2,718,753.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandon Thomas sold 961 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $67.46, for a total value of $64,829.06. Following the transaction, the insider now owns 265,767 shares of the company’s stock, valued at $17,928,641.82. The disclosure for this sale can be found here. Insiders have sold 140,445 shares of company stock valued at $9,517,917 over the last quarter. Corporate insiders own 4.97% of the company’s stock.
Several brokerages recently commented on ENV. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Raymond James raised their target price on Envestnet from $82.00 to $83.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 11th. TheStreet cut Envestnet from a “b” rating to a “c+” rating in a research report on Thursday, May 9th. Royal Bank of Canada raised their target price on Envestnet to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. Finally, ValuEngine cut 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and an average target price of $73.30.
Envestnet Company Profile
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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