Mirae Asset Global Investments Co. Ltd. Purchases 7,924 Shares of Envestnet, Inc. (NYSE:ENV)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Envestnet, Inc. (NYSE:ENV) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,499 shares of the business services provider’s stock after acquiring an additional 7,924 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Envestnet were worth $6,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENV. Headlands Technologies LLC bought a new stake in shares of Envestnet in the 3rd quarter valued at about $45,000. McIlrath & Eck LLC grew its position in shares of Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock valued at $49,000 after buying an additional 469 shares during the last quarter. State of Tennessee Treasury Department bought a new stake in shares of Envestnet in the 2nd quarter valued at about $59,000. Covestor Ltd grew 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 valued at $104,000 after buying an additional 647 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Envestnet by 186.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,104 shares of the business services provider’s stock valued at $125,000 after buying an additional 1,370 shares during the last quarter.

Insider Activity at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of the transaction, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Envestnet news, insider Matthew Majoros sold 700 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction 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 $865,867.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson upped their price target on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. Raymond James upped their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their target price on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Envestnet Stock Performance

Shares of Envestnet stock opened at $57.30 on Monday. The company has a market cap of $3.14 billion, a PE ratio of -13.11 and a beta of 1.31. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $66.50. The business has a 50 day moving average price of $54.10 and a 200-day moving average price of $47.35. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Envestnet Profile

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.