Envestnet (NYSE:ENV) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a report published on Monday.

Several other analysts also recently commented on ENV. William Blair reiterated an outperform rating on shares of Envestnet in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on shares of Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. Raymond James upped their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. JMP Securities restated a market outperform rating and set a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. Finally, DA Davidson upped their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Trading Down 0.4 %

NYSE ENV opened at $62.29 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a 52 week low of $33.12 and a 52 week high of $68.83. The stock has a market capitalization of $3.41 billion, a PE ratio of -14.16 and a beta of 1.31. The firm has a 50 day moving average of $55.46 and a two-hundred day moving average of $48.34.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. The company had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. As a group, research analysts expect that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Envestnet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the last quarter. Hsbc Holdings PLC increased its position in Envestnet by 20,229.7% during the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after purchasing an additional 1,816,020 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Envestnet by 33.2% during the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after purchasing an additional 438,994 shares during the last quarter. Stephens Investment Management Group LLC increased its position in Envestnet by 14.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after purchasing an additional 207,632 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Envestnet by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock worth $59,586,000 after acquiring an additional 10,360 shares in the last quarter.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.