402,500 Shares in Envestnet, Inc. (NYSE:ENV) Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. bought a new position in Envestnet, Inc. (NYSE:ENV) during the 3rd quarter, Holdings Channel reports. The fund bought 402,500 shares of the business services provider’s stock, valued at approximately $25,205,000. Envestnet comprises 1.2% of Alpine Associates Management Inc.’s holdings, making the stock its 26th largest position.

Several other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Envestnet by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after purchasing an additional 48,057 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Envestnet during the 1st quarter worth about $762,000. Natixis Advisors LLC bought a new position in shares of Envestnet during the 2nd quarter worth about $718,000. Dimensional Fund Advisors LP increased its holdings in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of Envestnet during the 2nd quarter worth about $2,482,000.

Envestnet Price Performance

Shares of Envestnet stock opened at $63.07 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.22 and a beta of 1.25. Envestnet, Inc. has a 1-year low of $36.43 and a 1-year high of $73.04. The firm’s 50-day moving average price is $62.73 and its two-hundred day moving average price is $63.11.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ENV shares. StockNews.com started coverage on shares of Envestnet in a report on Wednesday. They set a “sell” rating on the stock. DA Davidson reissued a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Envestnet currently has an average rating of “Hold” and a consensus target price 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.