Millennium Management LLC Has $2.86 Million Holdings in Envestnet Inc (ENV)

Millennium Management LLC lowered its stake in Envestnet Inc (NYSE:ENV) by 77.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,231 shares of the business services provider’s stock after selling 195,310 shares during the period. Millennium Management LLC owned approximately 0.13% of Envestnet worth $2,864,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hartford Financial Management Inc. bought a new position in shares of Envestnet in the fourth quarter worth about $49,000. Advisors Asset Management Inc. bought a new position in shares of Envestnet in the fourth quarter worth about $58,000. Bank of Montreal Can increased its stake in shares of Envestnet by 23.5% in the fourth quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock worth $69,000 after purchasing an additional 268 shares during the period. Strs Ohio increased its stake in shares of Envestnet by 15.8% in the fourth quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock worth $108,000 after purchasing an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Envestnet by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,104 shares of the business services provider’s stock worth $153,000 after purchasing an additional 320 shares during the period. 93.86% of the stock is owned by institutional investors.

Shares of ENV opened at $69.67 on Monday. Envestnet Inc has a 12-month low of $46.57 and a 12-month high of $69.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $3.40 billion, a P/E ratio of 55.74, a PEG ratio of 2.83 and a beta of 1.90.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.18. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. The firm had revenue of $210.08 million for the quarter, compared to analyst estimates of $210.52 million. Analysts anticipate that Envestnet Inc will post 1.51 EPS for the current fiscal year.

A number of equities analysts have recently commented on the company. SunTrust Banks assumed coverage on Envestnet in a research note on Thursday. They issued a “buy” rating and a $80.00 price objective on the stock. UBS Group lifted their price objective on Envestnet from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. DA Davidson lowered Envestnet from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $64.00 to $67.00 in a research note on Wednesday, March 20th. They noted that the move was a valuation call. William Blair reiterated an “outperform” rating on shares of Envestnet in a research note on Thursday, March 14th. Finally, JMP Securities boosted their price target on Envestnet from $67.00 to $72.00 and gave the company a “market outperform” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.67.

In other Envestnet news, insider Anil Arora sold 5,117 shares of Envestnet stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $53.92, for a total transaction of $275,908.64. Following the sale, the insider now directly owns 65,312 shares of the company’s stock, valued at $3,521,623.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joshua Mayer sold 2,616 shares of Envestnet stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.00, for a total value of $143,880.00. Following the sale, the chief operating officer now directly owns 32,616 shares in the company, valued at $1,793,880. The disclosure for this sale can be found here. Insiders have sold 72,505 shares of company stock worth $4,645,164 over the last 90 days. Corporate insiders own 5.49% of the company’s stock.

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About Envestnet

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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