Swiss National Bank Grows Holdings in Envestnet Inc (ENV)
Swiss National Bank grew its stake in Envestnet Inc (NYSE:ENV) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,000 shares of the business services provider’s stock after buying an additional 1,700 shares during the quarter. Swiss National Bank’s holdings in Envestnet were worth $3,739,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its stake in Envestnet by 6.3% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock worth $73,173,000 after buying an additional 85,642 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Envestnet by 4.9% in the 3rd quarter. Brown Advisory Inc. now owns 885,250 shares of the business services provider’s stock valued at $45,148,000 after purchasing an additional 41,176 shares in the last quarter. State Street Corp boosted its stake in shares of Envestnet by 7.1% in the 2nd quarter. State Street Corp now owns 794,155 shares of the business services provider’s stock valued at $31,449,000 after purchasing an additional 52,546 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Envestnet by 1.2% in the 4th quarter. Victory Capital Management Inc. now owns 597,290 shares of the business services provider’s stock valued at $29,775,000 after purchasing an additional 7,080 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C purchased a new stake in shares of Envestnet in the 3rd quarter valued at $22,763,000. 93.05% of the stock is owned by institutional investors and hedge funds.
Shares of Envestnet Inc (NYSE ENV) opened at $56.65 on Monday. The firm has a market cap of $2,510.00, a price-to-earnings ratio of 246.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.86. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet Inc has a 12-month low of $30.80 and a 12-month high of $58.30.
A number of equities research analysts have recently issued reports on ENV shares. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Finally, UBS Group cut their price objective on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.00.
In other Envestnet news, insider Anil Arora sold 10,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $53.88, for a total transaction of $538,800.00. Following the completion of the sale, the insider now owns 110,731 shares of the company’s stock, valued at approximately $5,966,186.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter D’arrigo sold 29,780 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $50.09, for a total transaction of $1,491,680.20. Following the completion of the transaction, the chief financial officer now owns 57,779 shares of the company’s stock, valued at $2,894,150.11. The disclosure for this sale can be found here. Insiders have sold a total of 123,093 shares of company stock valued at $6,305,286 in the last three months. 5.58% of the stock is currently owned by corporate insiders.
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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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