Envestnet Inc. (NYSE:ENV) dropped 1.3% during trading on Monday . The company traded as low as $39.39 and last traded at $39.43, with a volume of 123,736 shares changing hands. The stock had previously closed at $39.95.

ENV has been the subject of a number of recent research reports. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “sell” rating in a research report on Friday, August 19th. Royal Bank Of Canada increased their price objective on Envestnet from $26.00 to $33.00 and gave the company a “sector perform” rating in a research report on Monday, May 9th. Jefferies Group reiterated a “buy” rating on shares of Envestnet in a research report on Sunday, May 8th. RBC Capital Markets restated a “sector perform” rating and issued a $40.00 target price (up previously from $37.00) on shares of Envestnet in a report on Wednesday, August 10th. Finally, JMP Securities restated a “buy” rating and issued a $9.50 target price (down previously from $36.00) on shares of Envestnet in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Envestnet currently has a consensus rating of “Hold” and an average target price of $36.19.

The company’s market cap is $1.69 billion. The firm has a 50-day moving average price of $38.20 and a 200-day moving average price of $31.78.

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

In other Envestnet news, Director Anil Arora sold 5,250 shares of Envestnet stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $35.20, for a total transaction of $184,800.00. Following the completion of the sale, the director now owns 96,238 shares of the company’s stock, valued at approximately $3,387,577.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter D’arrigo sold 12,294 shares of Envestnet stock in a transaction on Friday, June 17th. The stock was sold at an average price of $35.68, for a total transaction of $438,649.92. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake in Envestnet stock. Airain ltd bought a new position in Envestnet Inc. (NYSE:ENV) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 34,844 shares of the company’s stock, valued at approximately $1,040,000. Airain ltd owned about 0.10% of Envestnet as of its most recent SEC filing.

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.