StockNews.com Lowers Envestnet (NYSE:ENV) to Sell

Envestnet (NYSE:ENV) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Several other research firms also recently commented on ENV. DA Davidson raised their price objective on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. William Blair restated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James raised their price objective on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Price Performance

Shares of ENV stock opened at $62.50 on Monday. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.42 billion, a P/E ratio of -14.21 and a beta of 1.31. The stock has a 50 day moving average price of $55.21 and a 200 day moving average price of $48.18.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The firm had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. As a group, sell-side analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Insider Transactions at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on 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 directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Institutional Trading of Envestnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after acquiring an additional 7,924 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Envestnet during the 3rd quarter worth about $5,604,000. Van Berkom & Associates Inc. lifted its position in Envestnet by 33.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after acquiring an additional 438,994 shares during the period. Cambiar Investors LLC lifted its position in Envestnet by 65.5% during the 4th quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after acquiring an additional 22,823 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in Envestnet during the 3rd quarter worth about $1,206,000.

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.