Insider Selling: Envestnet Inc (ENV) COO Sells 186 Shares of Stock

Envestnet Inc (NYSE:ENV) COO Joshua Mayer sold 186 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $55.00, for a total value of $10,230.00. Following the completion of the sale, the chief operating officer now owns 35,470 shares of the company’s stock, valued at $1,950,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Joshua Mayer also recently made the following trade(s):

  • On Thursday, November 8th, Joshua Mayer sold 2,606 shares of Envestnet stock. The stock was sold at an average price of $55.00, for a total value of $143,330.00.
  • On Monday, October 1st, Joshua Mayer sold 186 shares of Envestnet stock. The stock was sold at an average price of $61.11, for a total value of $11,366.46.

Envestnet stock traded down $0.13 during midday trading on Thursday, reaching $52.95. The company’s stock had a trading volume of 7,871 shares, compared to its average volume of 344,798. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Envestnet Inc has a 52-week low of $48.38 and a 52-week high of $64.80. The stock has a market cap of $2.43 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.87.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Envestnet had a return on equity of 11.32% and a net margin of 2.95%. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. As a group, sell-side analysts predict that Envestnet Inc will post 1.29 EPS for the current fiscal year.

A number of brokerages recently weighed in on ENV. Zacks Investment Research cut Envestnet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 29th. TheStreet cut Envestnet from a “b-” rating to a “c+” rating in a research note on Wednesday, October 10th. Rosenblatt Securities began coverage on Envestnet in a research note on Wednesday. They set a “buy” rating and a $65.00 price objective for the company. UBS Group upped their price objective on Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, DA Davidson upgraded Envestnet from a “neutral” rating to a “buy” rating in a research note on Thursday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $64.43.

A number of institutional investors have recently added to or reduced their stakes in ENV. Wasatch Advisors Inc. raised its stake in Envestnet by 38.6% in the second quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock valued at $136,791,000 after buying an additional 692,878 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Envestnet by 16.7% in the second quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock valued at $173,104,000 after purchasing an additional 451,887 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Envestnet by 5.8% in the second quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock valued at $200,655,000 after purchasing an additional 198,782 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Envestnet by 39.8% in the third quarter. Victory Capital Management Inc. now owns 659,518 shares of the business services provider’s stock valued at $40,198,000 after purchasing an additional 187,607 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Envestnet by 88.7% in the third quarter. Dimensional Fund Advisors LP now owns 363,129 shares of the business services provider’s stock valued at $22,133,000 after purchasing an additional 170,702 shares during the period. Institutional investors own 97.79% of the company’s stock.

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About Envestnet

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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