Envestnet Inc (NYSE:ENV) Receives $78.09 Consensus PT from Analysts

Envestnet Inc (NYSE:ENV) has been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $78.09.

ENV has been the subject of a number of analyst reports. Sandler O’Neill upgraded Envestnet from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a report on Wednesday, November 27th. Stifel Nicolaus upped their price target on Envestnet from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James upped their price target on Envestnet from $83.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of Envestnet in a research report on Friday, February 21st. Finally, Compass Point downgraded Envestnet from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research report on Friday, February 21st. They noted that the move was a valuation call.

In related news, insider Shelly O’brien sold 4,500 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $73.11, for a total value of $328,995.00. Following the transaction, the insider now directly owns 23,395 shares of the company’s stock, valued at approximately $1,710,408.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Crager sold 9,094 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $71.55, for a total value of $650,675.70. Following the completion of the transaction, the chief executive officer now directly owns 232,078 shares in the company, valued at $16,605,180.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,238 shares of company stock worth $11,913,939. Insiders own 4.97% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC increased its position 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 valued at $87,392,000 after acquiring an additional 920,535 shares during the period. Champlain Investment Partners LLC increased its position in shares of Envestnet by 19.2% in the 4th quarter. Champlain Investment Partners LLC now owns 1,175,165 shares of the business services provider’s stock valued at $81,827,000 after acquiring an additional 188,990 shares during the period. State Street Corp increased its position in shares of Envestnet by 2.3% in the 4th quarter. State Street Corp now owns 1,021,280 shares of the business services provider’s stock valued at $71,112,000 after acquiring an additional 22,852 shares during the period. Eaton Vance Management increased its position in shares of Envestnet by 56.1% in the 4th quarter. Eaton Vance Management now owns 450,003 shares of the business services provider’s stock valued at $31,335,000 after acquiring an additional 161,735 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Envestnet by 1.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 450,000 shares of the business services provider’s stock valued at $31,333,000 after acquiring an additional 7,500 shares during the period. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Envestnet stock traded down $2.10 during mid-day trading on Friday, reaching $76.27. 380,900 shares of the company were exchanged, compared to its average volume of 421,566. The business has a fifty day moving average of $77.74 and a 200 day moving average of $66.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $4.07 billion, a P/E ratio of -217.91 and a beta of 1.78. Envestnet has a 12-month low of $51.00 and a 12-month high of $87.75.

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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Analyst Recommendations for Envestnet (NYSE:ENV)

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