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

Stifel Financial Corp lessened its holdings in Envestnet, Inc. (NYSE:ENV) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,215 shares of the business services provider’s stock after selling 3,707 shares during the quarter. Stifel Financial Corp’s holdings in Envestnet were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Westchester Capital Management LLC bought a new stake in Envestnet in the third quarter worth about $45,746,000. Engaged Capital LLC raised its holdings in shares of Envestnet by 479.8% in the 2nd 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. Alpine Associates Management Inc. purchased a new position in Envestnet in the third quarter valued at approximately $25,205,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Envestnet during the third quarter valued at $8,472,000. Finally, Centiva Capital LP purchased a new stake in Envestnet in the third quarter worth $6,957,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENV shares. StockNews.com began coverage on Envestnet in a research report on Saturday, December 14th. They set a “sell” rating on the stock. DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Performance

Envestnet stock opened at $63.14 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. Envestnet, Inc. has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The stock has a market cap of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. The firm’s fifty day moving average price is $62.97 and its 200-day moving average price is $62.63.

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.