US Bancorp DE Sells 18,250 Shares of Envestnet, Inc. (NYSE:ENV)

US Bancorp DE reduced its position in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 81.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,233 shares of the business services provider's stock after selling 18,250 shares during the quarter. US Bancorp DE's holdings in Envestnet were worth $265,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Envestnet in the second quarter worth $46,000. Quest Partners LLC raised its stake in Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock valued at $95,000 after buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Envestnet by 54.2% in the third 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 during the last quarter. Federated Hermes Inc. raised its stake in shares of Envestnet by 80.0% in the second 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 last quarter. Finally, Summit Securities Group LLC purchased a new position in Envestnet during the second quarter valued at approximately $191,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENV. Raymond James lowered Envestnet from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. DA Davidson reissued a "neutral" rating and set a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. Finally, StockNews.com began coverage on Envestnet in a research report on Tuesday. They issued a "sell" rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $61.88.

Envestnet Stock Down 0.0 %

Shares of ENV stock traded down $0.01 on Thursday, hitting $62.96. 786,328 shares of the stock were exchanged, compared to its average volume of 677,962. Envestnet, Inc. has a fifty-two week low of $35.49 and a fifty-two week high of $73.04. The firm has a market capitalization of $3.48 billion, a P/E ratio of -13.20 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $62.72 and a 200 day moving average of $63.10.

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.