Brown Capital Management LLC Sells 12,027 Shares of Envestnet, Inc. (NYSE:ENV)

Brown Capital Management LLC trimmed its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 75.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,867 shares of the business services provider’s stock after selling 12,027 shares during the quarter. Brown Capital Management LLC’s holdings in Envestnet were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ENV. Innealta Capital LLC purchased a new stake in shares of Envestnet in the 2nd quarter worth $46,000. Quest Partners LLC grew its holdings 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 purchasing an additional 1,493 shares during the period. SG Americas Securities LLC increased its position in 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 buying an additional 945 shares in 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 buying an additional 1,200 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Envestnet during the 2nd quarter valued at about $191,000.

Envestnet Stock Performance

Envestnet stock opened at $63.09 on Thursday. Envestnet, Inc. has a 52-week low of $36.43 and a 52-week high of $73.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average is $62.74 and its 200 day moving average is $63.11.

Wall Street Analyst Weigh In

ENV has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. StockNews.com initiated 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.com, the stock currently has a consensus 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.