Teachers Advisors LLC raised its holdings in shares of Envestnet, Inc (NYSE:ENV) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,351 shares of the business services provider’s stock after acquiring an additional 6,898 shares during the quarter. Teachers Advisors LLC owned approximately 0.18% of Envestnet worth $3,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Geneva Advisors LLC grew its stake in shares of Envestnet by 3.4% during the 2nd quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock worth $1,689,000 after acquiring an additional 1,385 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Envestnet during the 1st quarter worth approximately $376,000. Parametric Portfolio Associates LLC grew its stake in shares of Envestnet by 116.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after acquiring an additional 41,761 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Envestnet by 8.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after acquiring an additional 133,303 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Envestnet by 541.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 64,674 shares of the business services provider’s stock worth $2,587,000 after acquiring an additional 54,590 shares in the last quarter. 95.31% of the stock is owned by institutional investors.
Shares of Envestnet, Inc (ENV) opened at 53.20 on Friday. The firm’s 50-day moving average price is $50.53 and its 200 day moving average price is $41.40. Envestnet, Inc has a one year low of $30.80 and a one year high of $55.15. The firm’s market cap is $2.34 billion.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Analysts predict that Envestnet, Inc will post $1.29 EPS for the current year.
Several brokerages have recently weighed in on ENV. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, October 10th. UBS AG reissued a “buy” rating and issued a $63.00 target price (up from $50.00) on shares of Envestnet in a research note on Monday, October 9th. Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Envestnet in a research note on Thursday, October 5th. Jefferies Group LLC raised their target price on shares of Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $52.00 target price on shares of Envestnet in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $54.38.
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In other news, COO Joshua Mayer sold 1,500 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the completion of the transaction, the chief operating officer now owns 13,796 shares in the company, valued at approximately $602,333.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.20, for a total value of $38,195.20. Following the transaction, the director now owns 801 shares of the company’s stock, valued at approximately $41,011.20. The disclosure for this sale can be found here. Insiders sold a total of 31,964 shares of company stock valued at $1,574,030 in the last 90 days. Corporate 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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