Envestnet Inc (NYSE:ENV) Short Interest Down 6.5% in December

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Envestnet Inc (NYSE:ENV) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,300,000 shares, a decrease of 6.5% from the December 15th total of 2,460,000 shares. Based on an average daily trading volume, of 364,200 shares, the short-interest ratio is presently 6.3 days. Currently, 4.6% of the company’s shares are sold short.

A number of equities analysts recently issued reports on ENV shares. DA Davidson increased their target price on Envestnet from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. They noted that the move was a valuation call. Sandler O’Neill upgraded Envestnet from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a report on Wednesday, November 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Envestnet in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Envestnet has a consensus rating of “Buy” and an average target price of $76.70.

In other Envestnet news, CTO Scott D. Grinis sold 15,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $72.01, for a total transaction of $1,080,150.00. Following the transaction, the chief technology officer now directly owns 60,790 shares in the company, valued at approximately $4,377,487.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Crager sold 9,094 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $64.61, for a total value of $587,563.34. Following the transaction, the chief executive officer now owns 232,788 shares in the company, valued at $15,040,432.68. The disclosure for this sale can be found here. Insiders have sold a total of 226,742 shares of company stock worth $16,011,716 over the last 90 days. Company insiders own 4.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors purchased a new stake in shares of Envestnet during the 4th quarter valued at $27,000. Steward Partners Investment Advisory LLC increased its position in shares of Envestnet by 61.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 501 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 190 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Envestnet by 112.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 530 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 280 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Envestnet during the 1st quarter valued at $50,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Envestnet during the 3rd quarter valued at $102,000. 96.21% of the stock is owned by institutional investors and hedge funds.

NYSE ENV traded down $0.25 on Friday, reaching $81.26. The company had a trading volume of 268,273 shares, compared to its average volume of 406,561. The stock has a market capitalization of $4.36 billion, a P/E ratio of -193.48 and a beta of 1.78. The company’s fifty day moving average is $73.47 and its 200 day moving average is $65.44. Envestnet has a 52-week low of $51.00 and a 52-week high of $83.38. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.56.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $236.08 million during the quarter, compared to analyst estimates of $233.02 million. Envestnet had a positive return on equity of 8.44% and a negative net margin of 2.35%. Envestnet’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts expect that Envestnet will post 1.32 EPS for the current year.

About Envestnet

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Further Reading: Portfolio Manager

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