Picton Mahoney Asset Management Buys Shares of 8,397 Envestnet, Inc. (NYSE:ENV)

Picton Mahoney Asset Management purchased a new position in shares of Envestnet, Inc. (NYSE:ENV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,397 shares of the business services provider’s stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENV. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after purchasing an additional 7,924 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in Envestnet in the 4th quarter valued at $1,369,000. Qube Research & Technologies Ltd bought a new position in Envestnet during the 3rd quarter worth $5,604,000. Handelsbanken Fonder AB lifted its holdings in shares of Envestnet by 156.0% during the fourth quarter. Handelsbanken Fonder AB now owns 17,723 shares of the business services provider’s stock worth $878,000 after buying an additional 10,800 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after acquiring an additional 438,994 shares in the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. DA Davidson lifted their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and issued a $79.00 price target on shares of Envestnet in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their price objective on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.14.

Insider Activity

In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew Majoros sold 700 shares of the stock in a transaction dated 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 directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Envestnet Price Performance

Envestnet stock opened at $63.68 on Thursday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -14.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $68.83. The stock has a fifty day moving average of $58.05 and a 200-day moving average of $49.90.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, sell-side analysts expect that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

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.