Benjamin Edwards Inc. Purchases 2,218 Shares of Envestnet, Inc. (NYSE:ENV)

Benjamin Edwards Inc. boosted its position in shares of Envestnet, Inc. (NYSE:ENV) by 68.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,438 shares of the business services provider’s stock after acquiring an additional 2,218 shares during the quarter. Benjamin Edwards Inc.’s holdings in Envestnet were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Envestnet in the 3rd quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its stake in shares of Envestnet by 19.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after buying an additional 802 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Envestnet by 75.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock worth $299,000 after buying an additional 2,915 shares during the period. Truist Financial Corp bought a new position in Envestnet in the 4th quarter valued at about $433,000. Finally, Quantbot Technologies LP bought a new stake in shares of Envestnet during the third quarter worth approximately $420,000.

Insider Buying and Selling

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the purchase, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ENV. JPMorgan Chase & Co. increased their target price on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. DA Davidson lifted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. StockNews.com downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Raymond James raised their price objective on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Price Performance

Shares of ENV traded down $0.43 during midday trading on Friday, hitting $62.96. The company’s stock had a trading volume of 298,166 shares, compared to its average volume of 685,813. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -14.41 and a beta of 1.26. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83. The company’s fifty day simple moving average is $57.32 and its two-hundred day simple moving average is $49.38.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. As a group, equities analysts expect that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Envestnet Company 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.