Envestnet Asset Management Inc. Sells 179,863 Shares of Certara, Inc. (NASDAQ:CERT)

Envestnet Asset Management Inc. lowered its holdings in shares of Certara, Inc. (NASDAQ:CERT) by 43.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 230,824 shares of the company’s stock after selling 179,863 shares during the period. Envestnet Asset Management Inc.’s holdings in Certara were worth $4,203,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CERT. BlackRock Inc. boosted its stake in Certara by 157.8% during the first quarter. BlackRock Inc. now owns 14,796,486 shares of the company’s stock worth $356,743,000 after acquiring an additional 9,055,874 shares in the last quarter. State Street Corp boosted its stake in Certara by 92.2% during the first quarter. State Street Corp now owns 3,224,252 shares of the company’s stock worth $77,737,000 after acquiring an additional 1,546,396 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Certara by 58.7% during the first quarter. Clearbridge Investments LLC now owns 3,200,895 shares of the company’s stock worth $68,755,000 after acquiring an additional 1,183,859 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Certara by 55.6% during the second quarter. Geneva Capital Management LLC now owns 2,993,552 shares of the company’s stock worth $54,513,000 after acquiring an additional 1,069,340 shares in the last quarter. Finally, Norges Bank purchased a new position in Certara in the fourth quarter worth about $15,915,000. Institutional investors own 67.26% of the company’s stock.

Insider Buying and Selling at Certara

In other Certara news, insider Leif E. Pedersen sold 51,224 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.60, for a total transaction of $747,870.40. Following the completion of the sale, the insider now directly owns 128,883 shares of the company’s stock, valued at $1,881,691.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CERT. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Certara in a report on Wednesday, October 11th. Credit Suisse Group decreased their target price on shares of Certara from $27.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 10th. William Blair cut shares of Certara from an “outperform” rating to a “market perform” rating in a report on Thursday, August 10th. Barclays decreased their target price on shares of Certara from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, August 11th. Finally, Jefferies Financial Group cut shares of Certara from a “buy” rating to a “hold” rating and decreased their target price for the stock from $24.50 to $17.00 in a report on Tuesday, August 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Certara has a consensus rating of “Hold” and an average target price of $19.71.

Certara Stock Up 0.7 %

CERT opened at $14.71 on Tuesday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $13.73 and a 200-day moving average price of $16.78. Certara, Inc. has a twelve month low of $11.81 and a twelve month high of $24.96. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -70.05, a PEG ratio of 1.15 and a beta of 1.51.

Certara Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access. It offers medicines to patients using biosimulation software, technology, and services to transform drug discovery and development.