Envestnet Inc (NYSE:ENV) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 1,900,000 shares, a decrease of 17.4% from the January 15th total of 2,300,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 372,200 shares, the days-to-cover ratio is presently 5.1 days.

Several analysts have issued reports on ENV shares. DA Davidson increased their target price on shares of Envestnet from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Envestnet in a research note on Monday, February 3rd. Finally, Sandler O’Neill upgraded shares of Envestnet from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $76.70.

Shares of NYSE:ENV traded up $1.11 during trading on Friday, reaching $86.60. The company had a trading volume of 175,993 shares, compared to its average volume of 389,042. The company has a fifty day moving average of $75.13 and a two-hundred day moving average of $65.83. The stock has a market capitalization of $4.35 billion, a P/E ratio of -206.19 and a beta of 1.78. Envestnet has a 12 month low of $51.00 and a 12 month high of $86.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.56.

In other Envestnet news, CTO Scott D. Grinis sold 15,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $72.01, for a total value of $1,080,150.00. Following the sale, the chief technology officer now directly owns 60,790 shares in the company, valued at approximately $4,377,487.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter D’arrigo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $64.84, for a total transaction of $324,200.00. Following the completion of the sale, the chief financial officer now owns 57,747 shares in the company, valued at $3,744,315.48. The disclosure for this sale can be found here. Insiders sold a total of 212,648 shares of company stock worth $15,102,903 over the last quarter. Corporate insiders own 4.97% of the company’s stock.

Several large investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in Envestnet by 22.5% in the 4th quarter. Advisors Asset Management Inc. now owns 2,830 shares of the business services provider’s stock worth $197,000 after acquiring an additional 520 shares during the last quarter. Keebeck Wealth Management LLC bought a new stake in Envestnet in the 4th quarter worth $47,000. Jane Street Group LLC purchased a new stake in shares of Envestnet in the 4th quarter worth about $1,134,000. Strycker View Capital LLC purchased a new stake in shares of Envestnet in the 4th quarter worth about $12,161,000. Finally, Spyglass Capital Management LLC lifted its position in shares of Envestnet by 22.4% in the 4th quarter. Spyglass Capital Management LLC now owns 235,084 shares of the business services provider’s stock worth $16,369,000 after purchasing an additional 43,088 shares during the period. 96.21% of the stock is currently owned by hedge funds and other institutional investors.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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