Short Interest in Envestnet Inc (NYSE:ENV) Declines By 6.5%

Envestnet Inc (NYSE:ENV) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,300,000 shares, a drop of 6.5% from the December 15th total of 2,460,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 364,200 shares, the days-to-cover ratio is presently 6.3 days.

In related news, insider Matthew Majoros sold 1,400 shares of Envestnet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $70.72, for a total value of $99,008.00. Following the sale, the insider now directly owns 12,457 shares in the company, valued at approximately $880,959.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William Crager sold 9,094 shares of Envestnet stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $64.61, for a total transaction of $587,563.34. Following the completion of the sale, the chief executive officer now owns 232,788 shares in the company, valued at $15,040,432.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,368 shares of company stock worth $13,134,990. 4.97% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Envestnet by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock worth $307,053,000 after purchasing an additional 384,026 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Envestnet by 148.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,541,300 shares of the business services provider’s stock worth $87,392,000 after purchasing an additional 920,535 shares during the last quarter. DF Dent & Co. Inc. grew its stake in shares of Envestnet by 0.4% in the 2nd quarter. DF Dent & Co. Inc. now owns 1,187,275 shares of the business services provider’s stock worth $81,174,000 after purchasing an additional 4,579 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Envestnet by 2.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 938,910 shares of the business services provider’s stock worth $53,236,000 after purchasing an additional 23,533 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Envestnet by 1.4% in the 2nd quarter. Northern Trust Corp now owns 684,203 shares of the business services provider’s stock worth $46,779,000 after purchasing an additional 9,688 shares during the last quarter. 96.21% of the stock is currently owned by institutional investors.

ENV stock opened at $74.45 on Friday. Envestnet has a 52 week low of $51.00 and a 52 week high of $75.64. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 59.56 and a beta of 1.74. The firm’s 50-day moving average is $71.57 and its two-hundred day moving average is $64.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.56.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Envestnet had a negative net margin of 2.35% and a positive return on equity of 8.44%. The company had revenue of $236.08 million for the quarter, compared to the consensus estimate of $233.02 million. During the same period in the previous year, the firm earned $0.53 EPS. Envestnet’s revenue was up 16.2% on a year-over-year basis. On average, equities research analysts predict that Envestnet will post 1.33 earnings per share for the current year.

A number of analysts have commented on ENV shares. Sandler O’Neill upgraded shares of Envestnet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $80.00 in a research report on Wednesday, November 27th. DA Davidson boosted their price target on shares of Envestnet from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.00.

Envestnet Company 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 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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