Envestnet Inc. (NYSE:ENV) had its price objective raised by stock analysts at Stifel Nicolaus from $40.00 to $45.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 15.53% from the company’s previous close.
Other equities analysts have also issued reports about the stock. RBC Capital Markets restated a “sector perform” rating and set a $40.00 price target (up from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. Avondale Partners lowered shares of Envestnet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Jefferies Group restated a “buy” rating on shares of Envestnet in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Thursday, July 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Envestnet from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.81.
Envestnet (NYSE:ENV) opened at 38.95 on Tuesday. The stock’s 50 day moving average is $35.98 and its 200-day moving average is $36.39. The stock’s market capitalization is $1.68 billion. Envestnet has a 12 month low of $19.30 and a 12 month high of $41.47.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $149.20 million for the quarter, compared to analyst estimates of $147.01 million. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. Envestnet’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities research analysts expect that Envestnet will post $0.97 earnings per share for the current year.
In other news, Director Anil Arora sold 2,520 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $40.33, for a total value of $101,631.60. Following the sale, the director now directly owns 84,694 shares of the company’s stock, valued at approximately $3,415,709.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Judson Bergman sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $38.33, for a total transaction of $766,600.00. Following the completion of the sale, the chief executive officer now directly owns 669,106 shares in the company, valued at $25,646,832.98. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC bought a new stake in Envestnet during the third quarter worth about $13,775,000. Van Berkom & Associates Inc. increased its stake in Envestnet by 95.0% in the second quarter. Van Berkom & Associates Inc. now owns 736,303 shares of the company’s stock worth $24,526,000 after buying an additional 358,661 shares during the period. Emerald Acquisition Ltd. bought a new stake in Envestnet during the second quarter worth about $11,412,000. Franklin Resources Inc. increased its stake in Envestnet by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,424,934 shares of the company’s stock worth $47,465,000 after buying an additional 276,308 shares during the period. Finally, Henderson Group PLC increased its stake in Envestnet by 57.6% in the second quarter. Henderson Group PLC now owns 509,319 shares of the company’s stock worth $16,965,000 after buying an additional 186,072 shares during the period. 98.05% of the stock is currently owned by institutional investors and hedge funds.