ClearAlpha Technologies LP Purchases Shares of 33,973 Envestnet, Inc. (NYSE:ENV)

ClearAlpha Technologies LP bought a new position in shares of Envestnet, Inc. (NYSE:ENV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,973 shares of the business services provider’s stock, valued at approximately $2,127,000. Envestnet makes up 0.6% of ClearAlpha Technologies LP’s investment portfolio, making the stock its 25th largest holding.

Several other large investors have also made changes to their positions in the company. Westchester Capital Management LLC bought a new stake in Envestnet during the 3rd quarter worth $45,746,000. 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 acquiring an additional 573,049 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Envestnet in the 3rd quarter worth $25,205,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Envestnet during the third quarter worth $8,472,000. Finally, Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Envestnet during the 3rd quarter valued at $5,546,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ENV shares. StockNews.com initiated coverage on shares of Envestnet in a report on Thursday. They issued a “sell” rating on the stock. DA Davidson restated a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Envestnet has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Up 0.1 %

Shares of ENV opened at $63.14 on Monday. Envestnet, Inc. has a 1 year low of $36.43 and a 1 year high of $73.04. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The business’s 50 day simple moving average is $62.81 and its 200-day simple moving average is $62.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59.

About Envestnet

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.