Envestnet Asset Management Inc. Sells 179,863 Shares of Certara, Inc. (NASDAQ:CERT)

Envestnet Asset Management Inc. lessened its stake in shares of Certara, Inc. (NASDAQ:CERT) by 43.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,824 shares of the company’s stock after selling 179,863 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Certara worth $4,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CERT. Raymond James & Associates boosted its position in shares of Certara by 83.4% during the 1st quarter. Raymond James & Associates now owns 37,080 shares of the company’s stock worth $796,000 after purchasing an additional 16,861 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Certara by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 384,913 shares of the company’s stock worth $8,268,000 after purchasing an additional 4,107 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Certara by 71.6% during the 1st quarter. HighTower Advisors LLC now owns 19,847 shares of the company’s stock worth $440,000 after purchasing an additional 8,282 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Certara by 18.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,841 shares of the company’s stock worth $126,000 after purchasing an additional 905 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of Certara in the 1st quarter worth about $111,000. Institutional investors own 67.26% of the company’s stock.

Insider Activity

In other news, insider Leif E. Pedersen sold 51,224 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.60, for a total transaction of $747,870.40. Following the completion of the transaction, the insider now directly owns 128,883 shares of the company’s stock, valued at approximately $1,881,691.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CERT shares. Barclays lowered their target price on shares of Certara from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, August 11th. Credit Suisse Group lowered their target price on shares of Certara from $27.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th. Bank of America lowered their target price on shares of Certara from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. William Blair lowered shares of Certara from an “outperform” rating to a “market perform” rating in a report on Thursday, August 10th. Finally, Jefferies Financial Group lowered shares of Certara from a “buy” rating to a “hold” rating and lowered their target price for the stock from $24.50 to $17.00 in a report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.71.

Certara Trading Up 0.7 %

NASDAQ:CERT opened at $14.71 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -70.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51. Certara, Inc. has a 52 week low of $11.81 and a 52 week high of $24.96. The firm has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $16.78.

Certara Company Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access. It offers medicines to patients using biosimulation software, technology, and services to transform drug discovery and development.