Envestnet, Inc. (NYSE:ENV) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Envestnet, Inc. (NYSE:ENV) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,124 shares of the business services provider’s stock after selling 383 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Envestnet were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ENV. 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 worth $77,603,000 after purchasing an additional 438,994 shares during the period. Norges Bank acquired a new position in Envestnet in the fourth quarter worth $24,777,000. Deutsche Bank AG boosted its holdings in Envestnet by 218.1% in the first quarter. Deutsche Bank AG now owns 576,415 shares of the business services provider’s stock worth $33,818,000 after purchasing an additional 395,213 shares during the period. Nuveen Asset Management LLC boosted its holdings in Envestnet by 103.5% in the second quarter. Nuveen Asset Management LLC now owns 492,371 shares of the business services provider’s stock worth $29,222,000 after purchasing an additional 250,371 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Envestnet by 185.0% in the second quarter. Marshall Wace LLP now owns 293,873 shares of the business services provider’s stock worth $17,441,000 after purchasing an additional 190,747 shares during the period.

Analysts Set New Price Targets

ENV has been the subject of a number of research reports. Raymond James lifted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. JMP Securities reissued a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a report on Wednesday. DA Davidson boosted their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada boosted their price target on shares of Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.67.

Insider Buying and Selling

In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were bought 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 accessible through the SEC website. In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were bought 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 accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of Envestnet 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 transaction, the insider now directly 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 currently owned by company insiders.

Envestnet Price Performance

Shares of Envestnet stock opened at $62.22 on Friday. 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 company’s 50-day moving average price is $54.82 and its two-hundred day moving average price is $47.77. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $68.83. The stock has a market cap of $3.41 billion, a PE ratio of -14.24 and a beta of 1.31.

Envestnet (NYSE:ENV) last issued its quarterly 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. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. As a group, sell-side analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

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.