KCG Holdings Inc. raised its stake in Envestnet, Inc (NYSE:ENV) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,485 shares of the business services provider’s stock after buying an additional 1,977 shares during the period. KCG Holdings Inc.’s holdings in Envestnet were worth $306,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ENV. Ameritas Investment Partners Inc. purchased a new stake in Envestnet during the first quarter worth about $116,000. Parallel Advisors LLC purchased a new stake in Envestnet during the first quarter worth about $131,000. CI Investments Inc. purchased a new stake in Envestnet during the first quarter worth about $194,000. Laurion Capital Management LP purchased a new stake in Envestnet during the first quarter worth about $216,000. Finally, Airain ltd purchased a new stake in Envestnet during the first quarter worth about $266,000.
Envestnet, Inc (NYSE ENV) traded down 0.80% on Friday, reaching $43.20. The company had a trading volume of 229,709 shares. The stock’s market capitalization is $1.90 billion. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $45.18. The stock’s 50 day moving average is $39.94 and its 200-day moving average is $36.99.
Envestnet (NYSE:ENV) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.01. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. On average, equities analysts predict that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
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ENV has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Raymond James Financial, Inc. lifted their price objective on Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. BidaskClub cut Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, DA Davidson initiated coverage on Envestnet in a research report on Thursday, July 6th. They set a “neutral” rating and a $42.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.50.
In related news, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total transaction of $294,000.00. Following the transaction, the chief financial officer now owns 19,976 shares in the company, valued at $783,059.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anil Arora sold 8,980 shares of Envestnet stock in a transaction on Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the sale, the insider now owns 68,609 shares in the company, valued at approximately $2,744,360. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 3,949 shares of company stock worth $146,288 and have sold 32,972 shares worth $1,300,284. Company insiders own 7.80% of the company’s stock.
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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