State Street Corp Has $23.95 Million Position in Envestnet, Inc (ENV)

State Street Corp boosted its position in shares of Envestnet, Inc (NYSE:ENV) by 3.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 741,609 shares of the business services provider’s stock after buying an additional 26,157 shares during the period. State Street Corp owned approximately 1.71% of Envestnet worth $23,953,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC raised its position in Envestnet by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 67,770 shares of the business services provider’s stock valued at $2,389,000 after buying an additional 741 shares during the last quarter. American International Group Inc. raised its position in Envestnet by 5.3% in the first quarter. American International Group Inc. now owns 25,094 shares of the business services provider’s stock valued at $811,000 after buying an additional 1,270 shares during the last quarter. Geneva Advisors LLC raised its position in Envestnet by 3.2% in the first quarter. Geneva Advisors LLC now owns 41,274 shares of the business services provider’s stock valued at $1,333,000 after buying an additional 1,274 shares during the last quarter. Whetstone Capital Advisors LLC raised its position in Envestnet by 0.4% in the first quarter. Whetstone Capital Advisors LLC now owns 343,026 shares of the business services provider’s stock valued at $11,080,000 after buying an additional 1,500 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its position in Envestnet by 26.5% in the first quarter. 1st Global Advisors Inc. now owns 8,719 shares of the business services provider’s stock valued at $282,000 after buying an additional 1,827 shares during the last quarter.

Shares of Envestnet, Inc (ENV) opened at 43.20 on Friday. Envestnet, Inc has a 52 week low of $30.80 and a 52 week high of $45.17. The company’s market capitalization is $1.90 billion. The firm’s 50-day moving average price is $39.94 and its 200 day moving average price is $36.99.

Envestnet (NYSE:ENV) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Equities analysts predict that Envestnet, Inc will post $1.29 EPS for the current year.

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Several equities research analysts have weighed in on ENV shares. Zacks Investment Research cut Envestnet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. BidaskClub raised Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $40.00 target price on shares of Envestnet in a report on Thursday, May 11th. Finally, William Blair reissued a “buy” rating on shares of Envestnet in a report on Wednesday, June 28th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Envestnet presently has an average rating of “Buy” and a consensus target price of $45.50.

In other news, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total value of $294,000.00. Following the transaction, the chief financial officer now owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anil Arora sold 8,980 shares of Envestnet stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $359,200.00. Following the completion of the transaction, the insider now directly owns 68,609 shares in the company, valued at $2,744,360. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,949 shares of company stock worth $146,288 and sold 32,972 shares worth $1,300,284. Insiders own 7.80% of the company’s stock.

About Envestnet

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.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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