Envestnet Inc. (NYSE:ENV) insider Scott D. Grinis sold 12,000 shares of Envestnet stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $39.16, for a total transaction of $469,920.00. Following the completion of the sale, the insider now owns 222,668 shares in the company, valued at $8,719,678.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Envestnet Inc. (NYSE:ENV) opened at 37.17 on Thursday. The company has a 50-day moving average of $38.69 and a 200-day moving average of $34.21. Envestnet Inc. has a 52 week low of $19.30 and a 52 week high of $41.47. The firm’s market cap is $1.59 billion.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. The business earned $141.70 million during the quarter, compared to the consensus estimate of $139.12 million. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. Equities research analysts forecast that Envestnet Inc. will post $0.99 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. RBC Capital Markets restated a “sector perform” rating and set a $40.00 price objective (up from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Avondale Partners lowered shares of Envestnet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 9th. Jefferies Group restated a “buy” rating on shares of Envestnet in a research note on Wednesday, August 3rd. JMP Securities restated a “buy” rating and set a $9.50 price objective (down from $36.00) on shares of Envestnet in a research note on Thursday, June 23rd. Finally, Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.19.
A number of hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. bought a new stake in Envestnet during the first quarter worth about $373,000. Franklin Resources Inc. increased its position in Envestnet by 7.6% in the first quarter. Franklin Resources Inc. now owns 1,148,626 shares of the company’s stock valued at $31,243,000 after buying an additional 80,665 shares during the last quarter. BlackRock Inc. increased its position in Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock valued at $111,000 after buying an additional 2,865 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in Envestnet during the first quarter valued at $26,368,000. Finally, TimesSquare Capital Management LLC increased its position in Envestnet by 17.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,591,040 shares of the company’s stock valued at $70,476,000 after buying an additional 377,540 shares during the last quarter.
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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