Mirae Asset Global Investments Co. Ltd. Sells 19,804 Shares of Envestnet, Inc. (NYSE:ENV)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Envestnet, Inc. (NYSE:ENVGet Rating) by 13.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,223 shares of the business services provider’s stock after selling 19,804 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Envestnet were worth $9,842,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Covestor Ltd raised its position in shares of Envestnet by 86.2% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after acquiring an additional 647 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Envestnet in the 1st quarter worth about $232,000. Keybank National Association OH raised its position in shares of Envestnet by 10.7% in the 1st quarter. Keybank National Association OH now owns 3,199 shares of the business services provider’s stock worth $239,000 after acquiring an additional 310 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Envestnet by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after acquiring an additional 267 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Envestnet in the 1st quarter worth about $259,000.

Envestnet Price Performance

ENV stock opened at $49.24 on Wednesday. The company has a market capitalization of $2.72 billion, a P/E ratio of -89.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. Envestnet, Inc. has a 52-week low of $48.88 and a 52-week high of $85.99. The business has a 50-day simple moving average of $54.55 and a two-hundred day simple moving average of $63.45.

Envestnet (NYSE:ENVGet Rating) last posted its earnings results on Thursday, August 4th. The business services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Envestnet had a negative net margin of 2.42% and a positive return on equity of 7.52%. The firm had revenue of $318.90 million for the quarter, compared to analysts’ expectations of $324.02 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts expect that Envestnet, Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Envestnet news, SVP Barry D. Cooper sold 1,290 shares of Envestnet stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $56.43, for a total transaction of $72,794.70. Following the transaction, the senior vice president now owns 25,997 shares of the company’s stock, valued at approximately $1,467,010.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Barry D. Cooper sold 1,290 shares of Envestnet stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $56.43, for a total value of $72,794.70. Following the sale, the senior vice president now owns 25,997 shares of the company’s stock, valued at approximately $1,467,010.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Crager purchased 920 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was bought at an average cost of $53.79 per share, for a total transaction of $49,486.80. Following the acquisition, the chief executive officer now directly owns 306,241 shares in the company, valued at approximately $16,472,703.39. The disclosure for this purchase can be found here. Insiders own 1.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ENV has been the subject of several research analyst reports. Raymond James lowered their price objective on Envestnet from $90.00 to $73.00 and set a “strong-buy” rating for the company in a research report on Friday, July 8th. TheStreet downgraded Envestnet from a “c-” rating to a “d+” rating in a research note on Friday, June 17th. JMP Securities reduced their target price on Envestnet from $97.00 to $80.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 12th. William Blair restated an “outperform” rating on shares of Envestnet in a research note on Monday, July 25th. Finally, DA Davidson reduced their target price on Envestnet from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.33.

About Envestnet

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Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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