First Trust Advisors LP Sells 10,671 Shares of Envestnet Inc (ENV)

First Trust Advisors LP trimmed its stake in Envestnet Inc (NYSE:ENV) by 16.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,035 shares of the business services provider’s stock after selling 10,671 shares during the quarter. First Trust Advisors LP’s holdings in Envestnet were worth $3,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of Envestnet by 5.8% in the 2nd quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock worth $200,655,000 after acquiring an additional 198,782 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Envestnet by 16.7% in the 2nd quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock worth $173,104,000 after acquiring an additional 451,887 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of Envestnet by 38.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock worth $136,791,000 after acquiring an additional 692,878 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Envestnet by 0.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,297,378 shares of the business services provider’s stock worth $71,291,000 after acquiring an additional 9,308 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Envestnet by 26.8% in the 2nd quarter. Voya Investment Management LLC now owns 780,575 shares of the business services provider’s stock worth $42,894,000 after acquiring an additional 164,976 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Shares of ENV stock opened at $50.73 on Monday. Envestnet Inc has a 1-year low of $47.45 and a 1-year high of $64.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.32 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.89.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Envestnet had a return on equity of 11.32% and a net margin of 2.95%. The business had revenue of $203.20 million for the quarter, compared to the consensus estimate of $203.99 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. Envestnet’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Envestnet Inc will post 1.27 EPS for the current year.

In other Envestnet news, Director Charles Roame sold 7,481 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $62.86, for a total value of $470,255.66. Following the transaction, the director now owns 1,782 shares in the company, valued at $112,016.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President William Crager sold 12,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $60.99, for a total value of $731,880.00. Following the completion of the transaction, the president now owns 212,252 shares in the company, valued at approximately $12,945,249.48. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $1,684,306 in the last quarter. 5.49% of the stock is currently owned by corporate insiders.

ENV has been the topic of a number of recent research reports. UBS Group lifted their target price on Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Monday, August 13th. TheStreet cut Envestnet from a “b-” rating to a “c+” rating in a report on Wednesday, October 10th. DA Davidson upgraded Envestnet from a “neutral” rating to a “buy” rating in a report on Thursday, November 8th. Finally, JMP Securities lowered their price target on Envestnet from $76.00 to $67.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $64.33.

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Envestnet Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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