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

StockNews.com lowered shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities research analysts have also issued reports on ENV. 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 note on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. DA Davidson upped their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. JMP Securities reaffirmed a market outperform rating and issued a $79.00 price target on shares of Envestnet in a research note on Wednesday, April 17th. Finally, Raymond James boosted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Stock Down 0.7 %

ENV opened at $62.96 on Thursday. The company has a market capitalization of $3.45 billion, a PE ratio of -14.41 and a beta of 1.26. The firm has a 50-day simple moving average of $57.32 and a two-hundred day simple moving average of $49.48. 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 has a 52 week low of $33.12 and a 52 week high of $68.83.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 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 the consensus estimate of $312.24 million. Analysts forecast that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after buying an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Envestnet by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after acquiring an additional 687,202 shares in the last quarter. Norges Bank purchased a new stake in Envestnet during the fourth quarter worth approximately $25,319,000. Schroder Investment Management Group acquired a new position in Envestnet in the fourth quarter valued at approximately $21,829,000. Finally, 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 purchasing an additional 438,994 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.