November 23, 2016 - By Richard Conner
A few days ago, a big insider trading deal was made. Judson Bergman, the Chief Executive Officer and an insider of Envestnet Inc unloaded a total of 10,000 shares of Envestnet Inc, worth about $381,720 U.S Dollars, at $38.2 for each one share at the time of the deal. This is not his first insider trade, in the last month, he sold another 80,000 shares worth $2,855,198 USD. This sizable sale occurred on November 23, 2016 and was that was filed with the D.C. based-SEC. The source filing is ready for use online here. Right now, Judson Bergman has rights to a total of 658,106 shares or 1.53% of the company’s market capitalization.
Out of 6 analysts covering Envestnet (NYSE:ENV), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $55 is the highest target while $35 is the lowest. The $42 average target is 7.42% above today’s ($39.1) stock price. Envestnet has been the topic of 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Avondale on Tuesday, August 9. RBC Capital Markets maintained the shares of ENV in a report on Friday, September 25 with “Sector Perform” rating. The firm earned “Buy” rating on Thursday, June 2 by UBS. Northland Capital maintained the stock with “Outperform” rating in Friday, February 26 report. The firm has “Outperform” rating given on Tuesday, August 11 by Northland Capital. Jefferies initiated it with “Buy” rating and $48 target price in Thursday, March 24 report. As per Tuesday, November 8, the company rating was maintained by Stifel Nicolaus. The firm earned “Outperform” rating on Tuesday, August 11 by Avondale. The firm earned “Outperform” rating on Tuesday, November 10 by Northland Capital.
Insitutional Activity: The institutional sentiment decreased to 1.2 in Q2 2016. Its down 0.39, from 1.59 in 2016Q1. The ratio dropped, as 12 funds sold all Envestnet Inc shares owned while 32 reduced positions. 15 funds bought stakes while 55 increased positions. They now own 42.48 million shares or 1.10% more from 42.02 million shares in 2016Q1.
Ashford Cap has 211,534 shares for 1.58% of their US portfolio. Vanguard Inc has 0.01% invested in the company for 2.88M shares. Rhumbline Advisers holds 0% or 42,661 shares in its portfolio. Thrivent Fincl For Lutherans last reported 292,100 shares in the company. Us Bank De accumulated 10,413 shares or 0% of the stock. Franklin accumulated 1.42M shares or 0.03% of the stock. Independent Port Consultants, a Florida-based fund reported 425 shares. National Bank Of Ny Mellon Corp has 693,479 shares for 0.01% of their US portfolio. The Texas-based Stephens Investment Gru Lc has invested 1.22% in Envestnet Inc (NYSE:ENV). Moreover, Eam Investors Ltd Liability Co has 0.37% invested in Envestnet Inc (NYSE:ENV) for 73,172 shares. Jpmorgan Chase Company has 0.01% invested in the company for 843,635 shares. Moreover, Blair William And Il has 0.03% invested in Envestnet Inc (NYSE:ENV) for 80,695 shares. California State Teachers Retirement Systems holds 0.01% or 86,878 shares in its portfolio. The Quebec – Canada-based Van Berkom Assocs has invested 1.12% in Envestnet Inc (NYSE:ENV). Sei Investments Co last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 31, 2016, the stock had 2 insider buys, and 25 insider sales for $9.85 million net activity. Shares for $158,175 were sold by O’Brien Shelly on Tuesday, November 1. $725,600 worth of Envestnet Inc (NYSE:ENV) shares were sold by Bergman Judson. Crager William had sold 50,000 shares worth $1.75 million. The insider Grinis Scott D sold 12,000 shares worth $469,920. 238 shares were bought by Roame Charles, worth $8,944 on Thursday, August 11. Arora Anil had sold 2,520 shares worth $101,632. The insider CROWELL GAYLE A sold 746 shares worth $27,975.
The stock closed at $39.1 during the last session. It is down 25.93% since April 21, 2016 and is uptrending. It has outperformed by 20.60% the S&P500.
Envestnet, Inc. is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The company has a market cap of $1.70 billion. The Company’s divisions are Envestnet and Envestnet/Yodlee. It currently has negative earnings. The Company’s Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
According to Zacks Investment Research, “Envestnet, Inc. is an independent provider of technology-enabled, Web-based investment solutions and services to financial advisors. The Company’s technology platform allows financial advisors to provide their clients with a wide range of investment solutions and services. It offers risk assessment and selection of investment strategies, asset allocation models, research and due diligence, portfolio construction, proposal generation and paperwork preparation, model management and account rebalancing, account monitoring, customized fee billing, overlay services covering asset allocation, tax management and socially responsible investing, aggregated multi-custodian performance reporting and communication tools, as well as access to a range of third-party asset custodians. Envestnet focuses its technology development efforts and its sales and marketing approach on addressing financial advisors’ front, middle and back office needs. Envestnet, Inc. is headquartered in Chicago, Illinois.”
Analysts await Envestnet Inc (NYSE:ENV) to report earnings on February, 23. They expect $0.21 EPS, up 5.00% or $0.01 from last year’s $0.2 per share. ENV’s profit will be $9.13 million for 46.55 P/E if the $0.21 EPS becomes a reality. After $0.18 actual EPS reported by Envestnet Inc for the previous quarter, Wall Street now forecasts 16.67% EPS growth.
Another recent and important Envestnet Inc (NYSE:ENV) news was published by Prnewswire.com which published an article titled: “CUNA Mutual Retirement Solutions Partners with Envestnet | Retirement ..” on November 15, 2016.
Envestnet, Inc., incorporated on February 11, 2004, is a well-known provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s divisions are Envestnet and Envestnet/Yodlee. The Company’s Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions. The Company’s Envestnet/Yodlee segment is a data aggregation and data analytics platform. The Company’s services and related technology are provided through Envestnet’s wealth management software, Envestnet/PMC, Envestnet/Tamarac, Vantage Reporting Solution, Envestnet/WMS, Envestnet/Placemark, Envestnet/Retirement Solutions, Envestnet/Yodlee and Envestnet/Finance Logix. The Firm operates approximately five Registered Investment Advisors (RIAs) and a registered broker-dealer.
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