Envestnet Inc. (NYSE:ENV) rose 1.4% during mid-day trading on Friday . The company traded as high as $40.34 and last traded at $39.75, with a volume of 288,388 shares changing hands. The stock had previously closed at $39.21.

ENV has been the subject of a number of research reports. Jefferies Group reissued a “buy” rating on shares of Envestnet in a research report on Sunday, May 8th. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Thursday, July 14th. JMP Securities reissued a “buy” rating and set a $9.50 price target (down previously from $36.00) on shares of Envestnet in a research report on Thursday, June 23rd. Avondale Partners downgraded Envestnet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $40.00 price target (up previously from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.19.

The company has a 50-day moving average of $38.08 and a 200-day moving average of $31.48. The firm’s market cap is $1.71 billion.

Envestnet (NYSE:ENV) last released its earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The business earned $141.70 million during the quarter, compared to analysts’ expectations of $139.12 million. Envestnet’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities analysts forecast that Envestnet Inc. will post $0.99 EPS for the current year.

In other news, insider Shelly O’brien sold 1,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the insider now owns 6,740 shares in the company, valued at $269,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter D’arrigo sold 12,294 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $35.68, for a total value of $438,649.92. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Envestnet stock. Rhumbline Advisers boosted its stake in Envestnet Inc. (NYSE:ENV) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,703 shares of the company’s stock after buying an additional 6,769 shares during the period. Rhumbline Advisers owned 0.11% of Envestnet worth $1,155,000 at the end of the most recent reporting period.

Envestnet, Inc (Envestnet) provides wealth management software and services to financial advisors and institutions. The Company works with Independent Registered Investment Advisors and advisors associated with financial institutions. The Company’s technology platform services include risk assessment and selection of investment strategies and solutions, asset allocation models, research and due diligence, portfolio construction, proposal generation and paperwork preparation, model management and account rebalancing, account monitoring, customized fee billing, overlay services covering asset allocation, tax management and socially responsible investing, aggregated multi-custodian performance reporting and communication tools, as well as access to a wide range of leading third-party asset custodians.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.