Stock Traders Buy High Volume of Envestnet Call Options (ENV)

Envestnet Inc (NYSE:ENV) saw unusually large options trading on Thursday. Investors bought 3,719 call options on the company. This is an increase of 1,679% compared to the average volume of 209 call options.

A number of brokerages recently commented on ENV. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. UBS Group decreased their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.00.

Shares of Envestnet (NYSE ENV) opened at $54.95 on Friday. Envestnet has a 12 month low of $30.80 and a 12 month high of $55.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2,383.65, a price-to-earnings ratio of 68.97, a price-to-earnings-growth ratio of 2.68 and a beta of 1.96.

In related news, insider Anil Arora sold 7,109 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.80, for a total value of $389,573.20. Following the transaction, the insider now directly owns 96,386 shares of the company’s stock, valued at approximately $5,281,952.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter D’arrigo sold 20,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.11, for a total value of $962,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,694 shares of company stock worth $9,480,716. 7.80% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Ashford Capital Management Inc. increased its stake in Envestnet by 32.7% in the 4th quarter. Ashford Capital Management Inc. now owns 320,340 shares of the business services provider’s stock worth $15,969,000 after buying an additional 78,882 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Envestnet in the 4th quarter worth $1,007,000. Gotham Asset Management LLC purchased a new stake in Envestnet in the 4th quarter worth $585,000. Macquarie Group Ltd. purchased a new stake in Envestnet in the 4th quarter worth $194,000. Finally, LPL Financial LLC purchased a new stake in Envestnet in the 4th quarter worth $233,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

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About Envestnet

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

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