StockNews.com Lowers Envestnet (NYSE:ENV) to Sell

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

A number of other brokerages also recently commented on ENV. Raymond James lifted their price objective on Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a market outperform rating and issued a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. William Blair reissued an outperform rating on shares of Envestnet in a research report on Wednesday, March 27th. Finally, DA Davidson boosted their price target on Envestnet from $62.00 to $67.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Stock Performance

Shares of ENV stock opened at $62.35 on Monday. The stock has a fifty day moving average price of $55.69 and a 200 day moving average price of $48.44. The stock has a market cap of $3.42 billion, a PE ratio of -14.27 and a beta of 1.31. Envestnet has a 1 year low of $33.12 and a 1 year high of $68.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last announced its quarterly earnings data 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. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Sell-side analysts forecast that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of the business’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 transaction, 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

Several institutional investors have recently modified their holdings of ENV. SG Americas Securities LLC lifted its stake in shares of Envestnet by 76.9% in the third quarter. SG Americas Securities LLC now owns 28,630 shares of the business services provider’s stock worth $1,261,000 after acquiring an additional 12,450 shares in the last quarter. Argent Capital Management LLC lifted its stake in shares of Envestnet by 32.7% in the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after acquiring an additional 1,274 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Envestnet by 13.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock worth $5,397,000 after acquiring an additional 14,916 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Envestnet by 39.8% in the third quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock worth $1,578,000 after acquiring an additional 10,200 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its stake in shares of Envestnet by 0.4% in the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock worth $15,220,000 after acquiring an additional 1,248 shares in the last quarter.

Envestnet Company Profile

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.