Envestnet, Inc. (NYSE:ENV) Shares Bought by Algert Global LLC

Algert Global LLC grew its holdings in Envestnet, Inc. (NYSE:ENV - Free Report) by 455.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,071 shares of the business services provider's stock after acquiring an additional 18,917 shares during the quarter. Algert Global LLC's holdings in Envestnet were worth $1,445,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Engaged Capital LLC increased its position 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 valued at $43,343,000 after acquiring an additional 573,049 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Envestnet in the third quarter valued at about $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Envestnet in the third quarter valued at about $8,472,000. Dimensional Fund Advisors LP raised its stake in shares of Envestnet by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider's stock worth $65,057,000 after purchasing an additional 73,751 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider's stock worth $8,968,000 after purchasing an additional 48,057 shares during the period.

Envestnet Stock Performance

Shares of ENV remained flat at $63.14 during trading hours on Friday. The stock's 50 day simple moving average is $62.80 and its 200-day simple moving average is $63.06. Envestnet, Inc. has a twelve month low of $36.43 and a twelve month high of $73.04. The company has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59.

Analyst Ratings Changes

Several brokerages recently weighed in on ENV. DA Davidson reiterated a "neutral" rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. StockNews.com initiated coverage on shares of Envestnet in a report on Thursday. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.