ProShare Advisors LLC Reduces Stock Position in Envestnet, Inc. (NYSE:ENV)

ProShare Advisors LLC trimmed its holdings in Envestnet, Inc. (NYSE:ENV) by 23.6% in the second quarter, Holdings Channel reports. The institutional investor owned 7,716 shares of the business services provider’s stock after selling 2,379 shares during the quarter. ProShare Advisors LLC’s holdings in Envestnet were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System grew its position in shares of Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Envestnet by 2.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after buying an additional 543 shares in the last quarter. Natixis increased its position in shares of Envestnet by 12.9% during the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock valued at $276,000 after buying an additional 544 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Envestnet by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock worth $1,577,000 after buying an additional 600 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Envestnet by 2.2% in the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after acquiring an additional 619 shares during the period.

Envestnet Price Performance

Shares of NYSE ENV opened at $62.61 on Tuesday. The stock has a market capitalization of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25. Envestnet, Inc. has a one year low of $33.12 and a one year high of $73.04. The firm’s 50 day simple moving average is $62.46 and its two-hundred day simple moving average is $62.13. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. DA Davidson reiterated a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. UBS Group reissued a “neutral” rating and set a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. William Blair restated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com started coverage on shares of Envestnet in a research note on Wednesday, September 25th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.88.

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.