Matthew Majoros Sells 4,000 Shares of Envestnet, Inc. (NYSE:ENV) Stock

Envestnet, Inc. (NYSE:ENV – Get Rating) insider Matthew Majoros sold 4,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $54.74, for a total transaction of $218,960.00. Following the completion of the transaction, the insider now directly owns 14,077 shares in the company, valued at approximately $770,574.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Envestnet Trading Down 1.8 %

Envestnet stock opened at $53.21 on Thursday. The firm’s 50-day moving average is $58.96 and its 200-day moving average is $60.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 0.75. Envestnet, Inc. has a 1 year low of $41.72 and a 1 year high of $69.22. The company has a market cap of $2.89 billion, a P/E ratio of -24.63 and a beta of 1.22.

Envestnet (NYSE:ENV – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The business services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Envestnet had a positive return on equity of 7.31% and a negative net margin of 8.90%. The business had revenue of $292.87 million during the quarter, compared to the consensus estimate of $296.27 million. On average, equities analysts expect that Envestnet, Inc. will post 1.23 earnings per share for the current year.

Institutional Trading of Envestnet

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Envestnet by 3.9% in the 4th quarter. Arizona State Retirement System now owns 13,239 shares of the business services provider’s stock valued at $817,000 after purchasing an additional 491 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Envestnet by 322.1% during the 4th quarter. Pacer Advisors Inc. now owns 10,602 shares of the business services provider’s stock worth $654,000 after buying an additional 8,090 shares in the last quarter. Swiss National Bank raised its position in shares of Envestnet by 1.8% during the 4th quarter. Swiss National Bank now owns 113,200 shares of the business services provider’s stock worth $6,984,000 after buying an additional 2,000 shares in the last quarter. Summit Creek Advisors LLC raised its position in shares of Envestnet by 22.3% during the 4th quarter. Summit Creek Advisors LLC now owns 411,829 shares of the business services provider’s stock worth $25,410,000 after buying an additional 74,967 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Envestnet by 21.5% during the 4th quarter. California Public Employees Retirement System now owns 235,230 shares of the business services provider’s stock worth $14,514,000 after buying an additional 41,577 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ENV shares. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Envestnet in a research note on Monday, March 13th. StockNews.com started coverage on shares of Envestnet in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Raymond James raised their target price on shares of Envestnet from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 3rd. Finally, Jefferies Financial Group raised their target price on shares of Envestnet from $40.00 to $47.00 in a research note on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.75.

Envestnet Company Profile

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Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through Envestnet Wealth Solutions and Envestnet Data and Analytics segments. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.