ProShare Advisors LLC Has $288,000 Stake in Evolent Health, Inc. (NYSE:EVH)

ProShare Advisors LLC trimmed its position in Evolent Health, Inc. (NYSE:EVH) by 25.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,057 shares of the technology company’s stock after selling 5,141 shares during the quarter. ProShare Advisors LLC’s holdings in Evolent Health were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Evolent Health during the 1st quarter valued at approximately $46,000. Canada Pension Plan Investment Board acquired a new stake in Evolent Health in the second quarter valued at approximately $61,000. NBC Securities Inc. grew its stake in shares of Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Evolent Health during the second quarter worth $87,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Evolent Health in the 1st quarter valued at $88,000.

Evolent Health Stock Down 1.6 %

Shares of Evolent Health stock opened at $26.15 on Friday. The stock’s 50-day moving average is $27.95 and its 200 day moving average is $26.11. Evolent Health, Inc. has a one year low of $17.98 and a one year high of $35.00. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -20.92 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities research analysts anticipate that Evolent Health, Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

EVH has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a report on Monday, August 26th. JMP Securities dropped their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Evolent Health news, CFO John Paul Johnson sold 44,693 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $1,340,790.00. Following the transaction, the chief financial officer now directly owns 171,207 shares of the company’s stock, valued at $5,136,210. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,291 shares of company stock valued at $9,290,385. Corporate insiders own 1.60% of the company’s stock.

About Evolent Health

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.