Envestnet (NYSE:ENV) Stock Rating Lowered by StockNews.com

Envestnet (NYSE:ENV) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts also recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. DA Davidson raised their price target on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Raymond James raised their price target on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Envestnet has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Price Performance

Shares of ENV opened at $62.50 on Monday. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $55.21 and a 200-day moving average of $48.18. The stock has a market capitalization of $3.42 billion, a P/E ratio of -14.21 and a beta of 1.31.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. As a group, equities research analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Transactions at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of Envestnet stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Institutional Trading of Envestnet

Several hedge funds and other institutional investors have recently made changes to their positions in ENV. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Envestnet by 6.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after acquiring an additional 7,924 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Envestnet in the third quarter worth approximately $5,604,000. Van Berkom & Associates Inc. lifted its stake in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after acquiring an additional 438,994 shares during the period. Cambiar Investors LLC lifted its stake in shares of Envestnet by 65.5% in the fourth quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after acquiring an additional 22,823 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of Envestnet in the third quarter worth approximately $1,206,000.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.