Envestnet Inc. (ENV) Sees Strong Trading Volume
Shares of Envestnet Inc. (NYSE:ENV) saw unusually-high trading volume on Monday . Approximately 221,776 shares were traded during trading, an increase of 6% from the previous session’s volume of 209,163 shares.The stock last traded at $37.00 and had previously closed at $36.92.
ENV has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Envestnet in a research report on Wednesday, August 3rd. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Thursday, July 14th. JMP Securities reaffirmed a “buy” rating and set a $9.50 target price (down from $36.00) on shares of Envestnet in a research report on Thursday, June 23rd. Avondale Partners lowered Envestnet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada lifted their target price on Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.19.
The firm’s market cap is $1.59 billion. The stock’s 50-day moving average is $38.85 and its 200 day moving average is $33.53.
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Envestnet (NYSE:ENV) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $139.12 million. Envestnet had a positive return on equity of 4.20% and a negative net margin of 3.95%. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities research analysts predict that Envestnet Inc. will post $0.99 earnings per share for the current fiscal year.
In related news, Director Anil Arora sold 4,900 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $40.00, for a total value of $196,000.00. Following the sale, the director now owns 87,214 shares in the company, valued at approximately $3,488,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shelly O’brien sold 5,500 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $39.72, for a total value of $218,460.00. Following the completion of the sale, the insider now owns 10,240 shares in the company, valued at approximately $406,732.80. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock valued at $111,000 after buying an additional 2,865 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Envestnet by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,343 shares of the company’s stock valued at $178,000 after buying an additional 638 shares during the period. Trexquant Investment LP bought a new stake in shares of Envestnet during the second quarter valued at $209,000. 1st Global Advisors Inc. bought a new stake in shares of Envestnet during the second quarter valued at $214,000. Finally, Princeton Alpha Management LP bought a new stake in shares of Envestnet during the second quarter valued at $246,000.
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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