Envestnet, Inc. (NYSE:ENV) Shares Sold by IMA Wealth Inc.

IMA Wealth Inc. decreased its position in Envestnet, Inc. (NYSE:ENV) by 14.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,964 shares of the business services provider’s stock after selling 4,311 shares during the period. IMA Wealth Inc.’s holdings in Envestnet were worth $1,236,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund grew its holdings in Envestnet by 2.1% in the third quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock valued at $883,000 after purchasing an additional 409 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 802 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Envestnet in the third quarter valued at $45,000. Victory Capital Management Inc. lifted its position in shares of Envestnet by 11.7% in the third quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock valued at $436,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its position in shares of Envestnet by 0.4% in the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock valued at $15,220,000 after acquiring an additional 1,248 shares in the last quarter.

Envestnet Trading Down 0.3 %

Shares of Envestnet stock traded down $0.21 during trading hours on Friday, reaching $62.15. The stock had a trading volume of 388,039 shares, compared to its average volume of 688,404. The firm has a 50 day simple moving average of $56.10 and a two-hundred day simple moving average of $48.68. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -14.22 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $68.83.

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

Insider Transactions at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the firm’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 transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Matthew Majoros sold 700 shares of the 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 sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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, with a total value of $88,493.30. Following the purchase, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Envestnet 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.