Envestnet, Inc. (NYSE:ENV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 69.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,562 shares of the business services provider’s stock after selling 19,639 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Envestnet were worth $536,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. YHB Investment Advisors Inc. acquired a new position in Envestnet during the first quarter worth about $38,000. Innealta Capital LLC purchased a new position in Envestnet in the 2nd quarter worth approximately $46,000. Quest Partners LLC acquired a new position in shares of Envestnet during the 4th quarter worth approximately $58,000. Federated Hermes Inc. grew its position in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,200 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Envestnet in the first quarter valued at approximately $168,000.

Envestnet Stock Performance

Shares of ENV stock opened at $62.69 on Friday. Envestnet, Inc. has a one year low of $33.12 and a one year high of $73.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s 50 day moving average price is $62.37 and its 200-day moving average price is $61.70. The firm has a market cap of $3.45 billion, a P/E ratio of -17.61 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, equities research analysts predict that Envestnet, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENV. William Blair restated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. DA Davidson restated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group restated a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, StockNews.com started coverage on Envestnet in a report on Tuesday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet 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.