Envestnet, Inc (ENV) Stake Boosted by Global X MANAGEMENT CO LLC

Global X MANAGEMENT CO LLC grew its holdings in Envestnet, Inc (NYSE:ENV) by 58.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,528 shares of the business services provider’s stock after purchasing an additional 3,526 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Envestnet were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares during the last quarter. Gradient Investments LLC acquired a new position in shares of Envestnet in the 2nd quarter valued at $191,000. Personal Capital Advisors Corp acquired a new position in shares of Envestnet in the 3rd quarter valued at $203,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Envestnet, Inc (ENV) opened at $49.55 on Friday. Envestnet, Inc has a 12 month low of $30.80 and a 12 month high of $55.15. The company has a current ratio of 0.90, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2,195.36, a PE ratio of 63.53, a P/E/G ratio of 3.68 and a beta of 1.97.

Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The firm had revenue of $175.61 million for the quarter, compared to analyst estimates of $171.57 million. During the same quarter in the prior year, the company earned $0.28 EPS. Envestnet’s revenue was up 17.7% on a year-over-year basis. analysts forecast that Envestnet, Inc will post 0.9 earnings per share for the current year.

In other Envestnet news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.60, for a total transaction of $39,985.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anil Arora sold 16,418 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $50.00, for a total value of $820,900.00. Following the sale, the insider now owns 56,175 shares in the company, valued at approximately $2,808,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,464 shares of company stock worth $6,214,283. 7.80% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on ENV shares. BidaskClub lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. upped their price target on Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $52.00 target price (up previously from $45.00) on shares of Envestnet in a research note on Thursday, August 10th. Zacks Investment Research lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Envestnet in a research note on Monday, September 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Envestnet presently has a consensus rating of “Buy” and an average price target of $55.13.

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About Envestnet

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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