Oppenheimer Asset Management Inc. lifted its holdings in shares of Envestnet, Inc (NYSE:ENV) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,079 shares of the business services provider’s stock after purchasing an additional 8 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Envestnet were worth $320,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Envestnet by 13.1% during the second quarter. Swiss National Bank now owns 71,700 shares of the business services provider’s stock worth $2,839,000 after purchasing an additional 8,300 shares during the period. Scout Investments Inc. increased its holdings in shares of Envestnet by 4.0% during the second quarter. Scout Investments Inc. now owns 86,275 shares of the business services provider’s stock worth $3,416,000 after purchasing an additional 3,350 shares during the period. Principal Financial Group Inc. bought a new position in shares of Envestnet during the second quarter worth approximately $238,000. Prudential Financial Inc. bought a new position in shares of Envestnet during the second quarter worth approximately $1,690,000. Finally, Tygh Capital Management Inc. bought a new position in shares of Envestnet during the second quarter worth approximately $5,952,000. 95.51% of the stock is currently owned by institutional investors.
In related news, CFO Peter D’arrigo sold 7,500 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total value of $294,000.00. Following the sale, the chief financial officer now owns 19,976 shares in the company, valued at $783,059.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $44.45, for a total transaction of $33,159.70. Following the completion of the sale, the director now owns 801 shares in the company, valued at approximately $35,604.45. The disclosure for this sale can be found here. Insiders sold 35,718 shares of company stock worth $1,420,284 in the last three months. Insiders own 5.58% of the company’s stock.
ENV has been the topic of several recent research reports. BidaskClub raised shares of Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. William Blair reissued a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. DA Davidson started coverage on shares of Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price objective on the stock. Zacks Investment Research raised shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Envestnet in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.50.
Envestnet, Inc (ENV) opened at 47.10 on Monday. Envestnet, Inc has a 52 week low of $30.80 and a 52 week high of $47.25. The company has a 50-day moving average of $42.78 and a 200-day moving average of $37.81. The company’s market capitalization is $2.07 billion.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the 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 firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $164.04 million. During the same period in the prior year, the firm earned $0.21 EPS. Envestnet’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that Envestnet, Inc will post $1.29 EPS for the current year.
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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