Geode Capital Management LLC raised its holdings in Envestnet, Inc. (NYSE:ENV – Free Report) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 1,134,530 shares of the business services provider’s stock after buying an additional 9,735 shares during the period. Geode Capital Management LLC’s holdings in Envestnet were worth $71,058,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Envestnet during the second quarter worth about $46,000. Longfellow Investment Management Co. LLC acquired a new stake in Envestnet during the 3rd quarter worth approximately $71,000. Quest Partners LLC grew its stake in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 1,493 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 945 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,200 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Envestnet in a research report on Saturday, December 14th. They issued a “sell” rating on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.88.
Envestnet Price Performance
ENV stock opened at $63.14 on Friday. The firm has a 50 day moving average of $62.98 and a 200-day moving average of $62.61. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet, Inc. has a 12-month low of $36.43 and a 12-month high of $73.04.
Envestnet Company Profile
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.
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