Ashford Capital Management Inc. boosted its stake in shares of Envestnet, Inc (NYSE:ENV) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 234,429 shares of the business services provider’s stock after buying an additional 668 shares during the period. Envestnet accounts for approximately 1.5% of Ashford Capital Management Inc.’s portfolio, making the stock its 24th largest position. Ashford Capital Management Inc. owned 0.54% of Envestnet worth $7,572,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in Envestnet during the first quarter valued at approximately $116,000. Parallel Advisors LLC purchased a new position in Envestnet during the first quarter valued at approximately $131,000. CI Investments Inc. purchased a new position in Envestnet during the first quarter valued at approximately $194,000. Laurion Capital Management LP purchased a new position in Envestnet during the first quarter valued at approximately $216,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Envestnet during the first quarter valued at approximately $261,000. 98.62% of the stock is currently owned by institutional investors.
Shares of Envestnet, Inc (ENV) traded down 0.39% on Thursday, hitting $38.50. The stock had a trading volume of 130,497 shares. The company’s market capitalization is $1.69 billion. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $41.47. The firm has a 50-day moving average of $36.32 and a 200 day moving average of $35.90.
Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Envestnet had a negative net margin of 9.55% and a positive return on equity of 5.86%. The company had revenue of $157.80 million during the quarter, compared to analyst estimates of $155.56 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that Envestnet, Inc will post $1.26 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on ENV shares. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 25th. Royal Bank Of Canada restated a “hold” rating and set a $40.00 target price on shares of Envestnet in a research note on Thursday, May 11th. Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of Envestnet in a research note on Friday, March 24th. Finally, BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Envestnet currently has a consensus rating of “Hold” and a consensus price target of $36.90.
In related news, President William Crager sold 2,500 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $31.33, for a total value of $78,325.00. Following the completion of the transaction, the president now directly owns 148,370 shares in the company, valued at $4,648,432.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Judson Bergman bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was bought at an average price of $32.40 per share, with a total value of $32,400.00. Following the completion of the transaction, the chief executive officer now directly owns 665,259 shares of the company’s stock, valued at approximately $21,554,391.60. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 5,244 shares of company stock valued at $186,312 and sold 15,255 shares valued at $493,247. 7.80% of the stock is currently 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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