Stephens Inc. AR Sells 846 Shares of Envestnet Inc (NYSE:ENV)

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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.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The company had revenue of $227.90 million for the quarter, compared to analyst estimates of $225.34 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Envestnet Inc will post 1.29 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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