Envestnet (NYSE:ENV) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Thursday. The firm issued a sell rating on the business services provider’s stock.

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

Envestnet Price Performance

ENV opened at $63.14 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04. The stock has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. The business has a 50 day simple moving average of $62.81 and a 200-day simple moving average of $63.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ENV. Innealta Capital LLC acquired a new stake in Envestnet in the 2nd quarter valued at about $46,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Envestnet in the third quarter valued at approximately $71,000. Quest Partners LLC increased its stake in shares of Envestnet by 6,220.8% during the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,493 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Envestnet by 54.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after purchasing an additional 945 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake 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 in the last quarter.

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.