Brown Advisory Inc. Has $29.30 Million Stake in Envestnet Inc (ENV)

Brown Advisory Inc. cut its position in Envestnet Inc (NYSE:ENV) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 587,838 shares of the business services provider’s stock after selling 297,412 shares during the period. Brown Advisory Inc. owned about 1.33% of Envestnet worth $29,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atlanta Capital Management Co. L L C increased its stake in shares of Envestnet by 20.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 537,122 shares of the business services provider’s stock worth $26,776,000 after purchasing an additional 90,786 shares in the last quarter. FDx Advisors Inc. increased its stake in shares of Envestnet by 25.9% in the fourth quarter. FDx Advisors Inc. now owns 6,028 shares of the business services provider’s stock worth $300,000 after purchasing an additional 1,240 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Envestnet in the fourth quarter worth $1,276,000. Employees Retirement System of Texas increased its stake in shares of Envestnet by 28.6% in the fourth quarter. Employees Retirement System of Texas now owns 36,000 shares of the business services provider’s stock worth $1,795,000 after purchasing an additional 8,000 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Envestnet by 12.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 28,311 shares of the business services provider’s stock worth $1,411,000 after purchasing an additional 3,092 shares in the last quarter. 91.36% of the stock is owned by hedge funds and other institutional investors.

In other Envestnet news, CFO Peter D’arrigo sold 20,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $48.11, for a total transaction of $962,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua Mayer sold 30,800 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $52.06, for a total transaction of $1,603,448.00. Following the transaction, the chief operating officer now owns 51,207 shares of the company’s stock, valued at approximately $2,665,836.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,444 shares of company stock valued at $8,029,142. 7.80% of the stock is owned by company insiders.

Envestnet Inc (ENV) opened at $57.10 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet Inc has a 12-month low of $30.80 and a 12-month high of $57.85. The firm has a market cap of $2,463.40, a price-to-earnings ratio of -570.94, a P/E/G ratio of 2.77 and a beta of 1.96.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Envestnet had a negative net margin of 0.48% and a positive return on equity of 10.12%. The firm had revenue of $182.86 million during the quarter, compared to analyst estimates of $179.20 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Envestnet’s revenue for the quarter was up 17.6% on a year-over-year basis. analysts expect that Envestnet Inc will post 1.34 EPS for the current year.

ENV has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Royal Bank of Canada reissued a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. UBS Group reduced their price objective on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price objective (up from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Envestnet presently has an average rating of “Buy” and an average target price of $55.00.

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Envestnet Company Profile

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.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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