Envestnet (NYSE:ENV) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Friday. The firm set a “sell” rating on the business services provider’s stock.

Separately, DA Davidson reaffirmed a “neutral” rating and set a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.88.

Envestnet Price Performance

ENV stock opened at $63.14 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. Envestnet has a 52 week low of $36.43 and a 52 week high of $73.04. The firm has a 50-day simple moving average of $62.87 and a 200-day simple moving average of $62.87. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

Institutional Trading of Envestnet

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Envestnet in the second quarter valued at about $46,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Envestnet during the third quarter valued at about $71,000. Quest Partners LLC raised its stake in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after acquiring an additional 945 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,200 shares during the period.

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.