Envestnet, Inc. (NYSE:ENV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 5.2% in the third quarter, HoldingsChannel.com reports. The firm owned 39,472 shares of the business services provider’s stock after selling 2,159 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Envestnet were worth $2,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENV. Engaged Capital LLC boosted its stake in Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after buying an additional 573,049 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Envestnet during the 3rd quarter worth approximately $8,472,000. Dimensional Fund Advisors LP increased its holdings in Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after purchasing an additional 73,751 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after purchasing an additional 48,057 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Envestnet in the second quarter valued at approximately $2,482,000.

Envestnet Price Performance

Shares of NYSE ENV opened at $63.14 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The stock’s 50-day moving average is $62.77 and its two-hundred day moving average is $63.09. Envestnet, Inc. has a 1-year low of $36.43 and a 1-year high of $73.04.

Analyst Upgrades and Downgrades

ENV has been the subject of a number of research reports. StockNews.com assumed coverage on Envestnet in a research note on Wednesday, November 20th. They issued a “sell” rating for the company. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet 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.