Envestnet, Inc (ENV) Shares Bought by Geneva Advisors LLC

Geneva Advisors LLC raised its stake in Envestnet, Inc (NYSE:ENV) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,659 shares of the business services provider’s stock after buying an additional 1,385 shares during the period. Geneva Advisors LLC owned 0.10% of Envestnet worth $1,689,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ENV. Jane Street Group LLC acquired a new stake in Envestnet during the first quarter valued at $376,000. Parametric Portfolio Associates LLC boosted its stake in Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock valued at $2,506,000 after buying an additional 41,761 shares during the period. Van Berkom & Associates Inc. boosted its stake in Envestnet by 8.8% in the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock valued at $65,465,000 after buying an additional 133,303 shares during the period. Airain ltd acquired a new stake in Envestnet during the first quarter valued at $266,000. Finally, PNC Financial Services Group Inc. boosted its stake in Envestnet by 217.5% in the first quarter. PNC Financial Services Group Inc. now owns 121,468 shares of the business services provider’s stock valued at $3,925,000 after buying an additional 83,212 shares during the period.

Envestnet, Inc (ENV) opened at 43.00 on Friday. The stock’s market cap is $1.89 billion. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $45.18. The stock has a 50 day moving average price of $40.54 and a 200-day moving average price of $37.19.

Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. During the same quarter last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts expect that Envestnet, Inc will post $1.29 EPS for the current year.

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Several equities research analysts have weighed in on ENV shares. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Envestnet in a report on Friday, July 14th. Zacks Investment Research upgraded Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and issued a $40.00 target price on shares of Envestnet in a research note on Thursday, May 11th. Finally, William Blair restated a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.50.

In related news, COO Joshua Mayer sold 1,500 shares of Envestnet stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $43.66, for a total value of $65,490.00. Following the completion of the sale, the chief operating officer now owns 13,796 shares in the company, valued at approximately $602,333.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the completion of the sale, the chief financial officer now owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,949 shares of company stock valued at $146,288 and sold 34,472 shares valued at $1,365,774. 7.80% of the stock is currently owned by company insiders.

About Envestnet

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.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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