BlackRock Inc. grew its holdings in shares of Envestnet Inc (NYSE:ENV) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,699,362 shares of the business services provider’s stock after buying an additional 27,689 shares during the period. BlackRock Inc. owned approximately 6.09% of Envestnet worth $134,564,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of ENV. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Envestnet by 133.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after buying an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Envestnet during the 4th quarter worth approximately $175,000. Zions Bancorporation bought a new position in shares of Envestnet during the 3rd quarter worth approximately $181,000. First Republic Investment Management Inc. bought a new position in shares of Envestnet during the 3rd quarter worth approximately $204,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Envestnet during the 3rd quarter worth approximately $238,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
In related news, insider Shelly O’brien sold 3,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $50.00, for a total value of $150,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $50.00, for a total value of $37,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,402 shares of company stock worth $1,983,819. 5.58% of the stock is owned by company insiders.
Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The company had revenue of $182.86 million for the quarter, compared to analysts’ expectations of $179.20 million. During the same period last year, the business earned $0.32 EPS. Envestnet’s quarterly revenue was up 17.6% compared to the same quarter last year. analysts predict that Envestnet Inc will post 1.31 earnings per share for the current year.
Separately, Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $55.00.
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Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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