Envestnet (NYSE:ENV) Sees Large Volume Increase – Here’s Why

Envestnet, Inc. (NYSE:ENV) saw an uptick in trading volume on Monday . 602,164 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 677,759 shares.The stock last traded at $63.06 and had previously closed at $62.94.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com began coverage on Envestnet in a report on Wednesday. They issued a “sell” rating for the company. DA Davidson restated a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Trading Down 0.0 %

The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -13.22 and a beta of 1.25. The business’s 50 day moving average price is $62.73 and its 200-day moving average price is $63.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENV. Westchester Capital Management LLC acquired a new position in Envestnet in the third quarter worth $45,746,000. Engaged Capital LLC boosted its holdings in shares of Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after buying an additional 573,049 shares during the period. Alpine Associates Management Inc. bought a new stake in shares of Envestnet during the 3rd quarter valued at about $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Envestnet during the third quarter worth about $8,472,000. Finally, Centiva Capital LP bought a new position in Envestnet in the third quarter worth about $6,957,000.

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.