Radnor Capital Management LLC reduced its position in shares of Envestnet, Inc. (NYSE:ENV) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,575 shares of the business services provider’s stock after selling 185 shares during the quarter. Radnor Capital Management LLC’s holdings in Envestnet were worth $459,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Envestnet during the first quarter worth about $50,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Envestnet by 85.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 931 shares of the business services provider’s stock worth $72,000 after acquiring an additional 430 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Envestnet by 312.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,755 shares of the business services provider’s stock worth $135,000 after acquiring an additional 1,330 shares during the period. Private Advisor Group LLC acquired a new position in shares of Envestnet in the second quarter worth approximately $191,000. Finally, WMS Partners LLC acquired a new position in shares of Envestnet in the third quarter worth approximately $206,000. Institutional investors own 93.45% of the company’s stock.
ENV has been the topic of several recent analyst reports. Truist assumed coverage on Envestnet in a research note on Friday, December 18th. They issued a “buy” rating and a $95.00 price target on the stock. Raymond James raised their price target on shares of Envestnet from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Friday, November 6th. BidaskClub cut shares of Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, December 31st. Finally, The Goldman Sachs Group started coverage on shares of Envestnet in a report on Wednesday, January 6th. They issued a “neutral” rating and a $91.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $83.00.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Thursday, November 5th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. The firm had revenue of $252.60 million during the quarter, compared to analysts’ expectations of $246.65 million. Envestnet had a negative net margin of 0.69% and a positive return on equity of 10.44%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. As a group, equities research analysts anticipate that Envestnet, Inc. will post 1.75 earnings per share for the current fiscal year.
In related news, CEO William Crager sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $82.36, for a total transaction of $2,059,000.00. Following the transaction, the chief executive officer now directly owns 228,928 shares of the company’s stock, valued at $18,854,510.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Brandon Thomas sold 40,801 shares of Envestnet stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $81.67, for a total transaction of $3,332,217.67. Following the completion of the sale, the executive now directly owns 278,701 shares in the company, valued at approximately $22,761,510.67. The disclosure for this sale can be found here. Insiders have sold 95,643 shares of company stock worth $7,843,217 over the last three months. 2.44% of the stock is owned by insiders.
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 Welth Solutions and Envestnet Data & Analytics segments. The company's product and services 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
Further Reading: Dollar Cost Averaging
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