Point72 Asset Management L.P. Sells 1,214,241 Shares of Evolent Health, Inc. (NYSE:EVH)

Point72 Asset Management L.P. decreased its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 81.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,144 shares of the technology company's stock after selling 1,214,241 shares during the period. Point72 Asset Management L.P. owned approximately 0.24% of Evolent Health worth $3,163,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock worth $125,676,000 after acquiring an additional 259,781 shares in the last quarter. Engaged Capital LLC boosted its stake in Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after purchasing an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP bought a new stake in Evolent Health during the 4th quarter worth approximately $58,781,000. Granahan Investment Management LLC raised its stake in shares of Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock worth $41,329,000 after purchasing an additional 181,893 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Evolent Health by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock worth $32,595,000 after purchasing an additional 466,225 shares during the last quarter.

Analysts Set New Price Targets

EVH has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a report on Monday, April 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. UBS Group boosted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Truist Financial lowered their price target on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Trading Down 2.3%

NYSE:EVH traded down $0.17 during mid-day trading on Monday, reaching $7.19. 2,212,368 shares of the company's stock traded hands, compared to its average volume of 2,422,435. Evolent Health, Inc. has a 12-month low of $7.06 and a 12-month high of $33.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day moving average price of $9.43 and a 200-day moving average price of $10.40. The firm has a market capitalization of $844.11 million, a price-to-earnings ratio of -8.77 and a beta of 1.04.

Evolent Health (NYSE:EVH - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. During the same period last year, the firm posted $0.34 earnings per share. Evolent Health's quarterly revenue was down 24.4% on a year-over-year basis. On average, sell-side analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, CEO Seth Blackley bought 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at $6,867,575.17. This represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane Holder bought 2,735 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the acquisition, the director now directly owns 70,584 shares of the company's stock, valued at approximately $658,548.72. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 74,000 shares of company stock valued at $666,315. 1.40% of the stock is currently owned by company insiders.

Evolent Health Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.