Fisher Asset Management LLC Has $37.64 Million Position in Envestnet, Inc. (NYSE:ENV)

Fisher Asset Management LLC cut its holdings in Envestnet, Inc. (NYSE:ENV) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 760,154 shares of the business services provider’s stock after selling 117,173 shares during the quarter. Fisher Asset Management LLC owned approximately 1.39% of Envestnet worth $37,643,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 buying an additional 7,924 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Envestnet during the fourth quarter worth $1,369,000. Qube Research & Technologies Ltd acquired a new position in shares of Envestnet during the third quarter valued at $5,604,000. Van Berkom & Associates Inc. boosted its holdings in Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after acquiring an additional 438,994 shares during the last quarter. Finally, Cambiar Investors LLC increased its position in Envestnet by 65.5% in the fourth quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after purchasing an additional 22,823 shares during the period.

Insider Buying and Selling

In other Envestnet news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by company insiders.

Envestnet Trading Down 0.7 %

Shares of ENV stock opened at $62.96 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. Envestnet, Inc. has a 12-month low of $33.12 and a 12-month high of $68.83. The firm has a fifty day moving average of $57.32 and a 200-day moving average of $49.43.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $312.24 million. Sell-side analysts predict that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

ENV has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. StockNews.com downgraded Envestnet from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada raised their price target on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Finally, Raymond James upped their price objective on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

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.