Envestnet (NYSE:ENV) Sees Unusually-High Trading Volume – Here’s What Happened

Envestnet, Inc. (NYSE:ENV) saw an uptick in trading volume on Monday . 602,164 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 677,759 shares.The stock last traded at $63.06 and had previously closed at $62.94.

Analysts Set New Price Targets

ENV has been the subject of a number of analyst reports. 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. StockNews.com assumed coverage on shares of Envestnet in a report on Wednesday. They issued a “sell” rating for the company. One equities 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Performance

The company has a market capitalization of $3.49 billion, a PE ratio of -13.22 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. The stock’s fifty day simple moving average is $62.73 and its 200-day simple moving average is $63.11.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Envestnet during the second quarter worth about $46,000. Longfellow Investment Management Co. LLC acquired a new position in Envestnet in the third quarter valued at $71,000. Quest Partners LLC grew its position in Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares during the period. SG Americas Securities LLC acquired a new stake in Envestnet during the first quarter worth about $168,000. Finally, Federated Hermes Inc. raised its holdings in shares of Envestnet by 80.0% in 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 during the period.

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.