Avondale Partners Downgrades Envestnet Inc to Market Perform

Brokerage firm Avondale Partners Downgrades its rating on Envestnet Inc(NYSE:ENV). The shares have been rated Market Perform. Previously, the analysts had a Market Outperform rating on the shares. The rating by Avondale Partners was issued on Aug 9, 2016.

In a different note, On Jun 2, 2016, UBS said it Upgrades its rating on Envestnet Inc. The shares have been rated ‘Buy’ by the firm.

Envestnet Inc (ENV) made into the market gainers list on Wednesdays trading session with the shares advancing 0.31% or 0.12 points. Due to strong positive momentum, the stock ended at $38.34, which is also near the day’s high of $38.48. The stock began the session at $38.12 and the volume stood at 1,34,680 shares. The 52-week high of the shares is $41.47 and the 52 week low is $19.3. The company has a current market capitalization of $1,641 M and it has 4,28,11,027 shares in outstanding.

Envestnet Inc(ENV) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $141.90M. Analysts had an estimated revenue of $139.23M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.20.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Shelly O’brien (Chief Legal Officer) sold 1,000 shares at $40.00 per share price.Also, On Aug 4, 2016, Anil Arora (director) sold 4,900 shares at $40.00 per share price.On May 12, 2016, Charles Roame (director) purchased 3,428 shares at $31.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Envestnet Inc. (Envestnet) provides wealth management software and services to financial advisors and institutions. The Company works with Independent Registered Investment Advisors and advisors associated with financial institutions. The Company’s technology platform services include risk assessment and selection of investment strategies and solutions asset allocation models research and due diligence portfolio construction proposal generation and paperwork preparation model management and account rebalancing account monitoring customized fee billing overlay services covering asset allocation tax management and socially responsible investing aggregated multi-custodian performance reporting and communication tools as well as access to a wide range of leading third-party asset custodians. The product and services of the Company include: Envestnet’s wealth management software Envestnet PMC Envestnet Tamarac Vantage Reporting Solution Envestnet WMS and Envestnet Placemark.

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