BNP Paribas Arbitrage SA boosted its stake in shares of Envestnet Inc. (NYSE:ENV) by 113.8% during the third quarter, Holdings Channel reports. The fund owned 3,448 shares of the company’s stock after buying an additional 1,835 shares during the period. BNP Paribas Arbitrage SA’s holdings in Envestnet were worth $126,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. raised its position in shares of Envestnet by 95.0% in the second quarter. Van Berkom & Associates Inc. now owns 736,303 shares of the company’s stock valued at $24,526,000 after buying an additional 358,661 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Envestnet during the second quarter valued at $11,412,000. Franklin Resources Inc. raised its position in shares of Envestnet by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,424,934 shares of the company’s stock valued at $47,465,000 after buying an additional 276,308 shares in the last quarter. Henderson Group PLC raised its position in shares of Envestnet by 57.6% in the second quarter. Henderson Group PLC now owns 509,319 shares of the company’s stock valued at $16,965,000 after buying an additional 186,072 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Envestnet by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,882,842 shares of the company’s stock valued at $96,027,000 after buying an additional 95,155 shares in the last quarter.
Shares of Envestnet Inc. (NYSE:ENV) opened at 36.27 on Friday. The firm’s market cap is $1.55 billion. Envestnet Inc. has a 12-month low of $19.30 and a 12-month high of $41.47. The company has a 50 day moving average of $38.00 and a 200-day moving average of $34.98.
Envestnet (NYSE:ENV) last announced its earnings results on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $139.12 million. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Analysts predict that Envestnet Inc. will post $0.99 EPS for the current year.
Several equities analysts have recently weighed in on ENV shares. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Friday, August 19th. Jefferies Group set a $48.00 price objective on shares of Envestnet and gave the company a “buy” rating in a report on Tuesday, August 16th. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Envestnet in a report on Wednesday, August 10th. Royal Bank Of Canada upped their price objective on shares of Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 9th. Finally, JMP Securities reiterated a “buy” rating and set a $9.50 price objective (down previously from $36.00) on shares of Envestnet in a report on Thursday, June 23rd. One 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 company. The stock presently has a consensus rating of “Buy” and an average target price of $36.19.
In other news, CEO Judson Bergman sold 20,000 shares of Envestnet stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $38.33, for a total transaction of $766,600.00. Following the sale, the chief executive officer now owns 669,106 shares of the company’s stock, valued at approximately $25,646,832.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anil Arora sold 1,750 shares of Envestnet stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $37.50, for a total transaction of $65,625.00. Following the sale, the director now directly owns 92,114 shares in the company, valued at approximately $3,454,275. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Envestnet Company Profile
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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