IMA Wealth Inc. reduced its stake in Envestnet, Inc. (NYSE: ENV – Get Rating) by 7.9% in the third quarter, according to its latest Form 13F filed with the Securities and Exchange Commission (SEC). The company owned 37,711 of his shares in the business service provider after selling 3,239 of his shares during the quarter. IMA Wealth Inc. owned approximately 0.07% of his Envestnet worth $1,674,000 as of the most recent SEC filing.
Several other big investors have also recently changed their holdings. Covestor Ltd increased his Envestnet position by 86.2% in the first quarter. Covestor Ltd now owns 1,398 shares of the business service provider worth $104,000 after acquiring an additional 647 shares during this period. Huntington National Bank increased his Envestnet position by 25.0% in the third quarter. Huntington National Bank now owns 2,417 shares of the business services provider worth $108,000 after acquiring an additional 483 shares during this period. Pacer Advisors Inc. acquired a new stake in his Envestnet worth approximately $112,000 in the third quarter. Inspire Investing LLC increased his Envestnet stake by 29.7% in the second quarter. Inspire Investing LLC now owns 4,040 shares of the business service provider worth $213,000 after purchasing an additional 926 shares last quarter. Finally, Tower Research Capital LLC TRC increased his Envestnet stake by 28.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,844 shares of the business service provider worth $215,000 after purchasing an additional 1,078 shares in the previous quarter.
Envestnet Trading Down 1.3%
NYSE ENV fell by $0.78 during Friday’s trading hours to reach $58.12. The company’s stock recorded a trading volume of 183,477 shares against his average trading volume of 439,063 shares. The company has a 50-day simple moving average of $64.59 and a 200-day simple moving average of $56.70. The stock has a market cap of $3.14 billion, a P/E of -35.21 and a beta of 1.22. Envestnet, Inc. has a 52-week low of $41.72 and a 52-week high of $84.58. The company has a debt to equity ratio of 1.14, a current ratio of 0.93 and a quick ratio of 0.93.
Analyst Rating Change
Many brokerage firms publish reports on ENV. JMP Securities reiterated its “above the market” rating and set a $80.00 price target on Envestnet stock in its research notes on Monday, February 27th. JPMorgan Chase & Company raised its price target for Embestnet from $53.00 to $60.00 in its research notes on Monday, Jan. 23, giving the stock a “neutral” rating. Jefferies Financial Group increased its price target for Envestnet shares from $40.00 to $47.00 in a research note on Tuesday, February 21. DA Davidson raised his price target on Envestnet stock from $70.00 to $74.00 in a research note on Wednesday, January 4th. Finally, Raymond James downgraded Envestnet’s stock from a ‘strong buy’ rating to an ‘outperform’ rating in his Friday, January 6 research memo, and lowered his price target for the company from $63.00 to $63.00. raised to $71.00. One analyst evaluated the stock with a sell rating, four assigned a hold rating, and four issued a buy rating to the company’s stock. Based on MarketBeat data, the company’s current consensus valuation is “Hold” with a consensus target price of $63.63.
Envestnet, Inc is committed to providing intelligent systems for wealth management and financial wellness. It operates through the Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The Envestnet Wealth Solutions segment provides integrated wealth management software and services to empower financial advisors and financial institutions.
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