Fisher Asset Management LLC Sells 116,849 Shares of Envestnet, Inc. (NYSE:ENV)

Fisher Asset Management LLC lowered its stake in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 760,478 shares of the business services provider's stock after selling 116,849 shares during the quarter. Fisher Asset Management LLC owned about 1.39% of Envestnet worth $37,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hsbc Holdings PLC increased its position in Envestnet by 20,229.7% during the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider's stock worth $90,027,000 after acquiring an additional 1,816,020 shares during the period. Stephens Investment Management Group LLC increased its holdings in Envestnet by 14.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider's stock valued at $81,762,000 after buying an additional 207,632 shares during the period. Clearbridge Investments LLC increased its holdings in Envestnet by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider's stock valued at $59,586,000 after buying an additional 10,360 shares during the period. Dimensional Fund Advisors LP increased its holdings in Envestnet by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 971,916 shares of the business services provider's stock valued at $48,130,000 after buying an additional 6,415 shares during the period. Finally, Norges Bank bought a new stake in Envestnet in the 4th quarter valued at $25,319,000.

Envestnet Price Performance

NYSE ENV traded up $0.01 on Tuesday, hitting $61.83. 488,330 shares of the company were exchanged, compared to its average volume of 484,716. The firm has a 50 day moving average of $63.80 and a two-hundred day moving average of $55.73. The company has a market cap of $3.41 billion, a P/E ratio of -17.37 and a beta of 1.28. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.47. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $73.04.

Envestnet (NYSE:ENV - Get Free Report) last released its earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The company had revenue of $324.95 million for the quarter, compared to the consensus estimate of $324.85 million. On average, equities analysts predict that Envestnet, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ENV shares. Jefferies Financial Group raised shares of Envestnet from an "underperform" rating to a "hold" rating and boosted their price target for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. StockNews.com raised shares of Envestnet from a "sell" rating to a "hold" rating in a report on Friday, May 10th. William Blair reaffirmed an "outperform" rating on shares of Envestnet in a report on Wednesday, March 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Finally, DA Davidson upped their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.14.

Insider Buying and Selling at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the company's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.90% of the company's stock.

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.