Envestnet Inc (ENV) Shares Sold by Cramer Rosenthal Mcglynn LLC
Cramer Rosenthal Mcglynn LLC decreased its stake in Envestnet Inc (NYSE:ENV) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,870 shares of the business services provider’s stock after selling 7,030 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Envestnet were worth $18,239,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in Envestnet in the 3rd quarter worth approximately $2,505,000. Stephens Investment Management Group LLC lifted its position 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. Global X MANAGEMENT CO LLC lifted its position in Envestnet by 58.7% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 9,528 shares of the business services provider’s stock worth $486,000 after buying an additional 3,526 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Envestnet by 33.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 127,868 shares of the business services provider’s stock worth $6,521,000 after buying an additional 32,310 shares in the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of Envestnet by 180.6% during the 4th quarter. Global X Management Co. LLC now owns 26,738 shares of the business services provider’s stock valued at $1,333,000 after purchasing an additional 17,210 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.
In related news, COO Joshua Mayer sold 30,800 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $52.06, for a total value of $1,603,448.00. Following the transaction, the chief operating officer now directly owns 51,207 shares in the company, valued at approximately $2,665,836.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anil Arora sold 557 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $57.40, for a total transaction of $31,971.80. The disclosure for this sale can be found here. Insiders have sold a total of 83,896 shares of company stock worth $4,365,785 in the last 90 days. 5.58% of the stock is owned by insiders.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $182.86 million for the quarter, compared to the consensus estimate of $179.20 million. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. Envestnet’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. sell-side analysts forecast that Envestnet Inc will post 1.33 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. UBS Group cut their price target on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.00.
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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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