Los Angeles Capital Management & Equity Research Inc. cut its position in shares of Envestnet Inc. (NYSE:ENV) by 56.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,675 shares of the company’s stock after selling 8,530 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Envestnet were worth $222,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ENV. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Envestnet during the first quarter worth approximately $373,000. Franklin Resources Inc. boosted its stake in shares of Envestnet by 7.6% in the first quarter. Franklin Resources Inc. now owns 1,148,626 shares of the company’s stock worth $31,243,000 after buying an additional 80,665 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock worth $111,000 after buying an additional 2,865 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Envestnet during the first quarter worth approximately $26,368,000. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Envestnet by 17.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,591,040 shares of the company’s stock worth $70,476,000 after buying an additional 377,540 shares during the last quarter.
Shares of Envestnet Inc. (NYSE:ENV) traded up 0.66% on Friday, reaching $36.45. 185,209 shares of the company’s stock traded hands. The firm’s market capitalization is $1.56 billion. The company has a 50 day moving average price of $38.59 and a 200 day moving average price of $34.31. Envestnet Inc. has a 52 week low of $19.30 and a 52 week high of $41.47.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $139.12 million. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. Envestnet’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. On average, equities research analysts predict that Envestnet Inc. will post $0.99 earnings per share for the current fiscal year.
ENV has been the subject of a number of research reports. Zacks Investment Research cut 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 target on shares of Envestnet and gave the stock a “buy” rating in a research note on Tuesday, August 16th. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 price target (up from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Royal Bank Of Canada boosted their price target on shares of Envestnet from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 9th. Finally, JMP Securities reiterated a “buy” rating and set a $9.50 price target (down from $36.00) on shares of Envestnet in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.19.
In other Envestnet news, CEO Judson Bergman sold 20,000 shares of the firm’s 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 transaction, the chief executive officer now owns 669,106 shares of the company’s stock, valued at approximately $25,646,832.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shelly O’brien sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the transaction, the insider now directly owns 6,740 shares in the company, valued at approximately $235,900. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
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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