Envestnet, Inc. (NYSE:ENV) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC boosted its position in Envestnet, Inc. (NYSE:ENV) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,290 shares of the business services provider’s stock after purchasing an additional 3,319 shares during the quarter. MML Investors Services LLC owned about 0.06% of Envestnet worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westchester Capital Management LLC purchased a new stake in shares of Envestnet during the third quarter worth about $45,746,000. Engaged Capital LLC grew its stake in Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after acquiring an additional 573,049 shares during the period. Alpine Associates Management Inc. acquired a new position in Envestnet in the 3rd quarter valued at $25,205,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Envestnet during the 3rd quarter worth $8,472,000. Finally, Centiva Capital LP acquired a new stake in shares of Envestnet during the third quarter worth $6,957,000.

Envestnet Price Performance

ENV stock opened at $63.14 on Tuesday. The stock has a 50-day moving average price of $62.94 and a two-hundred day moving average price of $62.64. The company has a market cap of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet, Inc. has a 12-month low of $36.43 and a 12-month high of $73.04.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENV. DA Davidson reiterated a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com initiated coverage on shares of Envestnet in a research note on Saturday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.