Fisher Asset Management LLC Reduces Position in Envestnet, Inc. (NYSE:ENV)

Fisher Asset Management LLC decreased its holdings in Envestnet, Inc. (NYSE:ENV - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 760,154 shares of the business services provider's stock after selling 117,173 shares during the period. Fisher Asset Management LLC owned about 1.39% of Envestnet worth $37,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Envestnet by 15.9% during the 4th quarter. Victory Capital Management Inc. now owns 11,482 shares of the business services provider's stock worth $569,000 after buying an additional 1,575 shares in the last quarter. Truist Financial Corp bought a new position in shares of Envestnet during the fourth quarter valued at approximately $433,000. Yousif Capital Management LLC raised its stake in Envestnet by 7.2% in the fourth quarter. Yousif Capital Management LLC now owns 24,597 shares of the business services provider's stock worth $1,218,000 after buying an additional 1,650 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Envestnet during the fourth quarter worth $1,369,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Envestnet by 156.0% in the 4th quarter. Handelsbanken Fonder AB now owns 17,723 shares of the business services provider's stock valued at $878,000 after acquiring an additional 10,800 shares during the period.

Envestnet Stock Performance

Shares of NYSE ENV traded down $0.43 during mid-day trading on Friday, hitting $62.96. The stock had a trading volume of 298,166 shares, compared to its average volume of 685,813. The company has a 50 day moving average of $57.32 and a two-hundred day moving average of $49.48. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $68.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $3.45 billion, a PE ratio of -14.41 and a beta of 1.26.

Envestnet (NYSE:ENV - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. Research analysts predict that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Envestnet

In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company's stock, valued at approximately $221,968,274.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares of the company's stock, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm's stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company's stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ENV has been the topic of a number of recent research reports. StockNews.com downgraded Envestnet from a "hold" rating to a "sell" rating in a research report on Thursday. Raymond James raised their price target on shares of Envestnet from $52.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 2nd. DA Davidson boosted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. JMP Securities restated a "market outperform" rating and issued a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada upped their price target on Envestnet from $47.00 to $56.00 and gave the stock a "sector perform" rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.