StockNews.com Lowers Envestnet (NYSE:ENV) to Sell

StockNews.com cut shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a report released on Thursday.

Several other brokerages have also commented on ENV. William Blair reaffirmed an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. Royal Bank of Canada boosted their price target on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. DA Davidson increased their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a report on Friday, February 23rd. Finally, Raymond James upped their target price on shares of Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $63.67.

Envestnet Stock Performance

Envestnet stock opened at $62.96 on Thursday. 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 market capitalization of $3.45 billion, a P/E ratio of -14.41 and a beta of 1.26. The stock’s 50 day moving average is $57.32 and its 200 day moving average is $49.48.

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

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in shares of Envestnet by 20,229.7% during the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after buying an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after acquiring an additional 687,202 shares during the last quarter. Norges Bank purchased a new position in shares of Envestnet during the 4th quarter worth $25,319,000. Schroder Investment Management Group purchased a new position in shares of Envestnet during the 4th quarter worth $21,829,000. Finally, Van Berkom & Associates Inc. boosted its position in shares of Envestnet by 33.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after acquiring an additional 438,994 shares during the last quarter.

About Envestnet

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.