Published On: Tue, Sep 20th, 2016

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.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/19/envestnet-inc-env-sees-strong-trading-volume.html

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.

Receive News & Ratings for Envestnet Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Envestnet Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>