IMA Wealth Inc. Sells 4,311 Shares of Envestnet, Inc. (NYSE:ENV)

IMA Wealth Inc. lowered its stake in shares of Envestnet, Inc. (NYSE:ENV) by 14.7% during the 4th quarter, HoldingsChannel reports. The fund owned 24,964 shares of the business services provider’s stock after selling 4,311 shares during the period. IMA Wealth Inc.’s holdings in Envestnet were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ENV. Van Berkom & Associates Inc. raised its position in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after buying an additional 438,994 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Envestnet by 46.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 390,860 shares of the business services provider’s stock valued at $17,210,000 after acquiring an additional 123,866 shares in the last quarter. Summit Creek Advisors LLC boosted its position in Envestnet by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock valued at $15,220,000 after acquiring an additional 1,248 shares in the last quarter. California Public Employees Retirement System boosted its position in Envestnet by 4.3% during the 3rd quarter. California Public Employees Retirement System now owns 278,135 shares of the business services provider’s stock valued at $12,246,000 after acquiring an additional 11,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Envestnet by 113.1% during the third quarter. Envestnet Asset Management Inc. now owns 163,161 shares of the business services provider’s stock valued at $7,184,000 after purchasing an additional 86,585 shares during the last quarter.

Insider Buying and Selling at Envestnet

In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Company insiders own 8.90% of the company’s stock.

Envestnet Stock Performance

ENV traded down $0.21 during mid-day trading on Friday, reaching $62.15. 388,039 shares of the company traded hands, compared to its average volume of 688,404. The stock has a market capitalization of $3.41 billion, a P/E ratio of -14.22 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The company’s fifty day moving average price is $56.10 and its 200-day moving average price is $48.68. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $68.83.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, sell-side analysts expect that Envestnet, Inc. will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ENV shares. Raymond James lifted their target price on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. DA Davidson lifted their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. William Blair restated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Envestnet has an average rating of “Moderate Buy” and a consensus price target of $63.67.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.