Denver Investment Advisors LLC Has $1.28 Million Stake in Envestnet, Inc (ENV)
Denver Investment Advisors LLC raised its position in Envestnet, Inc (NYSE:ENV) by 36.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,415 shares of the business services provider’s stock after buying an additional 8,595 shares during the period. Denver Investment Advisors LLC’s holdings in Envestnet were worth $1,284,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Envestnet during the first quarter worth about $116,000. Parallel Advisors LLC acquired a new position in shares of Envestnet during the first quarter worth about $131,000. Gradient Investments LLC acquired a new position in shares of Envestnet during the second quarter worth about $191,000. CI Investments Inc. acquired a new position in shares of Envestnet during the first quarter worth about $194,000. Finally, Blueport Capital L.P. raised its position in shares of Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock worth $202,000 after buying an additional 2,574 shares during the last quarter.
Shares of Envestnet, Inc (ENV) opened at 43.55 on Friday. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $45.17. The company’s 50 day moving average is $39.82 and its 200 day moving average is $36.95. The firm’s market cap is $1.92 billion.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. The firm had revenue of $167.50 million for 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%. Envestnet’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Analysts anticipate that Envestnet, Inc will post $1.29 earnings per share for the current year.
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A number of brokerages have issued reports on ENV. BidaskClub lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of Envestnet in a research report on Friday, July 14th. Royal Bank Of Canada restated a “hold” rating and set a $40.00 target price on shares of Envestnet in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Monday. Finally, William Blair restated a “buy” rating on shares of Envestnet in a research report on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.50.
In related news, CFO Peter D’arrigo sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the completion of the transaction, the chief financial officer now owns 19,976 shares of the company’s stock, valued at $783,059.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles Roame acquired 1,473 shares of Envestnet stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average cost of $35.38 per share, with a total value of $52,114.74. Following the purchase, the director now owns 1,729 shares of the company’s stock, valued at approximately $61,172.02. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,949 shares of company stock valued at $146,288 and have sold 32,972 shares valued at $1,300,284. 7.80% of the stock is currently owned by insiders.
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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