Elkfork Partners LLC purchased a new position in shares of Envestnet, Inc (NYSE:ENV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 82,858 shares of the company’s stock, valued at approximately $2,921,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ENV. 1st Global Advisors Inc. increased its position in Envestnet by 7.9% in the third quarter. 1st Global Advisors Inc. now owns 6,940 shares of the company’s stock worth $253,000 after buying an additional 509 shares in the last quarter. Teacher Retirement System of Texas increased its position in Envestnet by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,343 shares of the company’s stock worth $178,000 after buying an additional 638 shares in the last quarter. Geneva Advisors LLC increased its position in Envestnet by 1.9% in the third quarter. Geneva Advisors LLC now owns 37,942 shares of the company’s stock worth $1,383,000 after buying an additional 704 shares in the last quarter. Teachers Advisors LLC increased its position in Envestnet by 1.2% in the third quarter. Teachers Advisors LLC now owns 67,029 shares of the company’s stock worth $2,443,000 after buying an additional 766 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Envestnet by 1.0% in the third quarter. California State Teachers Retirement System now owns 87,778 shares of the company’s stock worth $3,200,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.
Envestnet, Inc (NYSE:ENV) traded up 0.93% during mid-day trading on Tuesday, hitting $38.05. The stock had a trading volume of 231,263 shares. The firm’s 50-day moving average price is $36.96 and its 200-day moving average price is $37.06. Envestnet, Inc has a 1-year low of $19.44 and a 1-year high of $41.47. The stock’s market cap is $1.64 billion.
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A number of research firms have weighed in on ENV. Stifel Nicolaus raised their price target on Envestnet from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, January 10th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $36.94.
In other Envestnet news, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $37.50, for a total value of $27,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anil Arora sold 840 shares of Envestnet stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $35.00, for a total transaction of $29,400.00. Following the completion of the sale, the director now directly owns 87,838 shares of the company’s stock, valued at approximately $3,074,330. The disclosure for this sale can be found here. Insiders have sold 51,402 shares of company stock valued at $3,741,831 in the last three months. 7.80% of the stock is owned by insiders.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet/Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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