Envestnet (NYSE:ENV) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a report released on Monday morning.

Several other research analysts have also recently commented on the company. JMP Securities reissued a market outperform rating and set a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. William Blair reaffirmed an outperform rating on shares of Envestnet in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price objective 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, DA Davidson upped their price objective on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Envestnet currently has a consensus rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Trading Down 2.6 %

Shares of NYSE ENV opened at $61.68 on Monday. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. The stock has a market capitalization of $3.38 billion, a PE ratio of -14.11 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a fifty day simple moving average of $55.04 and a 200-day simple moving average of $48.02.

Envestnet (NYSE:ENV) last released its earnings results 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. 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. On average, equities analysts forecast that Envestnet will post 1.78 earnings per share for the current year.

Insider Transactions at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost 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 in the company, valued at $221,968,274.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $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

A number of large investors have recently made changes to their positions in ENV. SG Americas Securities LLC boosted its position in shares of Envestnet by 76.9% in the 3rd quarter. SG Americas Securities LLC now owns 28,630 shares of the business services provider’s stock valued at $1,261,000 after purchasing an additional 12,450 shares during the period. Argent Capital Management LLC raised its stake in Envestnet by 32.7% during the 3rd quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 1,274 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Envestnet by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock valued at $5,397,000 after acquiring an additional 14,916 shares during the last quarter. TD Asset Management Inc raised its stake in Envestnet by 39.8% during the 3rd quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock valued at $1,578,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its stake in shares of Envestnet by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock worth $15,220,000 after buying an additional 1,248 shares in the last quarter.

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.