New York State Common Retirement Fund increased its position in Envestnet, Inc (NYSE:ENV) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 68,387 shares of the company’s stock after buying an additional 1,600 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Envestnet worth $2,493,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Tygh Capital Management Inc. raised its stake in Envestnet by 26.4% in the second quarter. Tygh Capital Management Inc. now owns 141,765 shares of the company’s stock worth $4,722,000 after buying an additional 29,599 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Envestnet by 20.7% in the second quarter. UBS Asset Management Americas Inc. now owns 19,800 shares of the company’s stock worth $660,000 after buying an additional 3,400 shares in the last quarter. Teacher Retirement System of Texas raised its stake 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. Dimensional Fund Advisors LP raised its stake in Envestnet by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 436,537 shares of the company’s stock worth $14,541,000 after buying an additional 37,633 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Envestnet by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,882,842 shares of the company’s stock worth $96,027,000 after buying an additional 95,155 shares in the last quarter. Institutional investors and hedge funds own 99.60% of the company’s stock.
Shares of Envestnet, Inc (NYSE:ENV) traded up 0.53% on Friday, reaching $37.85. 164,135 shares of the company traded hands. Envestnet, Inc has a one year low of $19.30 and a one year high of $41.47. The stock’s market capitalization is $1.63 billion. The stock’s 50 day moving average price is $36.34 and its 200-day moving average price is $37.01.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Monday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $149.20 million for the quarter, compared to analysts’ expectations of $147.01 million. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities analysts forecast that Envestnet, Inc will post $0.97 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on ENV shares. Stifel Nicolaus upped their price objective on shares of 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 raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Tuesday, October 18th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Envestnet currently has an average rating of “Buy” and an average price target of $36.94.
In related news, CEO Judson Bergman sold 12,969 shares of Envestnet stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $34.74, for a total value of $450,543.06. Following the sale, the chief executive officer now owns 657,206 shares in the company, valued at $22,831,336.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President William Crager sold 20,000 shares of Envestnet stock in a transaction on Monday, October 31st. The shares were sold at an average price of $34.97, for a total transaction of $699,400.00. Following the completion of the sale, the president now owns 144,135 shares in the company, valued at approximately $5,040,400.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,610 shares of company stock worth $5,257,037. 7.80% of the stock is currently owned by company insiders.
Envestnet Company Profile
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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