Short Interest in Envestnet, Inc. (NYSE:ENV) Decreases By 35.6%

Envestnet, Inc. (NYSE:ENVGet Free Report) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,320,000 shares, a decline of 35.6% from the June 30th total of 3,600,000 shares. Based on an average trading volume of 842,300 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. purchased a new position in shares of Envestnet in the first quarter worth about $38,000. Innealta Capital LLC bought a new stake in Envestnet during the 2nd quarter valued at $46,000. Quest Partners LLC bought a new stake in Envestnet during the 4th quarter valued at $58,000. SG Americas Securities LLC purchased a new stake in shares of Envestnet during the first quarter worth $168,000. Finally, Summit Securities Group LLC bought a new position in shares of Envestnet in the second quarter worth $191,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ENV shares. StockNews.com started coverage on Envestnet in a research report on Tuesday, July 23rd. They issued a “sell” rating for the company. DA Davidson downgraded Envestnet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $63.00 in a research report on Thursday, July 18th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, May 8th. Finally, UBS Group reaffirmed a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Get Our Latest Report on Envestnet

Envestnet Stock Up 0.1 %

Envestnet stock traded up $0.06 during mid-day trading on Monday, reaching $62.06. The stock had a trading volume of 488,970 shares, compared to its average volume of 666,227. The firm has a market capitalization of $3.42 billion, a PE ratio of -17.44 and a beta of 1.29. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The stock’s 50-day simple moving average is $63.38 and its 200-day simple moving average is $58.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.19 and a current ratio of 1.19.

Envestnet (NYSE:ENVGet Free Report) last posted its earnings results on Tuesday, May 7th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. On average, sell-side analysts forecast that Envestnet will post 1.79 EPS for the current fiscal year.

Envestnet Company Profile

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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.

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