Stifel Financial Corp Sells 3,707 Shares of Envestnet, Inc. (NYSE:ENV)

Stifel Financial Corp lessened its position in Envestnet, Inc. (NYSE:ENV) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,215 shares of the business services provider’s stock after selling 3,707 shares during the period. Stifel Financial Corp owned 0.06% of Envestnet worth $2,080,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC bought a new position in Envestnet in the 2nd quarter valued at approximately $718,000. Dimensional Fund Advisors LP increased its position in Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after acquiring an additional 73,751 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Envestnet during the second quarter valued at $2,482,000. Engaged Capital LLC lifted its holdings in shares of Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares during the period. Finally, Algert Global LLC grew its stake in shares of Envestnet by 455.4% in the third quarter. Algert Global LLC now owns 23,071 shares of the business services provider’s stock worth $1,445,000 after purchasing an additional 18,917 shares during the last quarter.

Envestnet Price Performance

Shares of NYSE ENV opened at $63.14 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50-day moving average price of $62.97 and a 200-day moving average price of $62.63. The stock has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. Envestnet, Inc. has a 1 year low of $36.43 and a 1 year high of $73.04.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENV. DA Davidson reaffirmed a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. StockNews.com began coverage on Envestnet in a research report on Saturday, December 14th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.88.

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.