Envestnet (NYSE:ENV) had its target price raised by investment analysts at JMP Securities from $67.00 to $72.00 in a report released on Friday. The firm currently has a “market outperform” rating on the business services provider’s stock. JMP Securities’ price objective points to a potential upside of 9.12% from the stock’s previous close.
Several other equities research analysts have also issued reports on ENV. Raymond James decreased their price target on shares of Envestnet from $71.00 to $60.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 3rd. DA Davidson dropped their price target on shares of Envestnet to $58.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. Zacks Investment Research downgraded shares of Envestnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 29th. UBS Group lowered their price objective on shares of Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, January 8th. Finally, Buckingham Research began coverage on shares of Envestnet in a report on Thursday, January 10th. They set a “buy” rating and a $63.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Envestnet presently has a consensus rating of “Buy” and an average price target of $64.89.
Envestnet stock traded up $1.50 during mid-day trading on Friday, reaching $65.98. The company’s stock had a trading volume of 4,865 shares, compared to its average volume of 260,379. The company has a market cap of $3.10 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 2.56 and a beta of 1.89. Envestnet has a 12 month low of $46.57 and a 12 month high of $65.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.
In related news, insider Anil Arora sold 5,117 shares of the business’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $53.92, for a total transaction of $275,908.64. Following the completion of the transaction, the insider now directly owns 65,312 shares in the company, valued at approximately $3,521,623.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joshua Mayer sold 2,616 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.00, for a total value of $143,880.00. Following the transaction, the chief operating officer now owns 32,616 shares of the company’s stock, valued at $1,793,880. The disclosure for this sale can be found here. Insiders have sold 9,462 shares of company stock valued at $521,883 in the last three months. Insiders own 5.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ENV. Vanguard Group Inc. grew its position in shares of Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after buying an additional 112,801 shares in the last quarter. Vanguard Group Inc grew its holdings in Envestnet by 2.9% in the third quarter. Vanguard Group Inc now owns 3,942,847 shares of the business services provider’s stock valued at $240,316,000 after purchasing an additional 112,801 shares during the period. BlackRock Inc. boosted its stake in shares of Envestnet by 4.8% in the fourth quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock worth $164,898,000 after acquiring an additional 152,126 shares during the last quarter. Clearbridge Investments LLC lifted its position in Envestnet by 1.4% during the third quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock worth $54,136,000 after buying an additional 11,953 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Envestnet by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 671,388 shares of the business services provider’s stock worth $33,025,000 after buying an additional 11,870 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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