Envestnet Inc (NYSE:ENV) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,300,000 shares, a decline of 6.5% from the December 15th total of 2,460,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average trading volume of 364,200 shares, the short-interest ratio is currently 6.3 days.
A number of research firms have recently weighed in on ENV. Sandler O’Neill upgraded shares of Envestnet from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $80.00 in a research report on Wednesday, November 27th. DA Davidson lifted their price target on shares of Envestnet from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Envestnet currently has a consensus rating of “Buy” and an average target price of $77.00.
In other news, CEO William Crager sold 9,094 shares of Envestnet stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $64.61, for a total value of $587,563.34. Following the completion of the sale, the chief executive officer now directly owns 232,788 shares in the company, valued at $15,040,432.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew Majoros sold 1,400 shares of Envestnet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $70.72, for a total transaction of $99,008.00. Following the completion of the sale, the insider now owns 12,457 shares of the company’s stock, valued at $880,959.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,368 shares of company stock valued at $13,134,990. Corporate insiders own 4.97% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. M Holdings Securities Inc. boosted its position in Envestnet by 2.0% during the second quarter. M Holdings Securities Inc. now owns 10,344 shares of the business services provider’s stock valued at $707,000 after acquiring an additional 200 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Envestnet by 4.1% during the second quarter. LPL Financial LLC now owns 6,462 shares of the business services provider’s stock valued at $442,000 after purchasing an additional 254 shares during the period. Stephens Inc. AR raised its holdings in shares of Envestnet by 4.5% during the third quarter. Stephens Inc. AR now owns 9,319 shares of the business services provider’s stock valued at $528,000 after purchasing an additional 399 shares during the period. US Bancorp DE raised its holdings in shares of Envestnet by 4.9% during the second quarter. US Bancorp DE now owns 10,770 shares of the business services provider’s stock valued at $737,000 after purchasing an additional 502 shares during the period. Finally, United Services Automobile Association raised its holdings in shares of Envestnet by 7.9% during the second quarter. United Services Automobile Association now owns 7,316 shares of the business services provider’s stock valued at $500,000 after purchasing an additional 533 shares during the period. 96.21% of the stock is currently owned by institutional investors.
ENV traded down $0.21 during trading on Thursday, hitting $74.99. 1,219 shares of the stock traded hands, compared to its average volume of 276,272. Envestnet has a twelve month low of $51.00 and a twelve month high of $75.64. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 60.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.46 and a quick ratio of 0.46. The business has a 50 day moving average price of $71.50 and a 200 day moving average price of $64.92.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Envestnet had a negative net margin of 2.35% and a positive return on equity of 8.44%. The company had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts predict that Envestnet will post 1.33 earnings per share for the current year.
Envestnet Company Profile
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 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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