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Envestnet executive sells $39.8k in company stock

Published 03/27/2024, 04:05 PM

In a recent transaction, Matthew Majoros, the Principal Accounting Officer at Envestnet, Inc. (NYSE:ENV), sold 700 shares of the company's common stock. The sale, which took place on March 25, 2024, was executed at a price of $56.92 per share, resulting in a total transaction value of approximately $39,844.

Majoros's transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following the sale, he remains a significant holder of Envestnet stock, with 15,212 shares still under his ownership.

The transaction comes at a time when insider sales and purchases are often watched by investors as signals of confidence in the company's future prospects. Envestnet, Inc., headquartered in Berwyn, Pennsylvania, operates within the business services sector, providing wealth management technology and services to financial advisors and institutions.

The stock sale by Majoros provides the latest insight into insider activity at Envestnet. Shareholders and potential investors often monitor such transactions for a better understanding of how insiders are aligning their positions with the company's performance and outlook.

It is worth noting that the disclosed transaction represents a direct ownership sale and is part of the regular financial disclosures required by company executives. The details of such transactions are publicly available and provide transparency into the financial dealings of corporate insiders.

InvestingPro Insights

As Envestnet, Inc. (NYSE:ENV) continues to navigate the business services sector, recent insider transactions have caught the eye of shareholders and potential investors. To complement this interest, insights from InvestingPro reveal a nuanced financial perspective of the company.

Envestnet's market capitalization stands at $3.16 billion, reflecting its position in the market. Despite a challenging period, with a negative price-to-earnings (P/E) ratio of -13.00 and an adjusted P/E ratio for the last twelve months as of Q4 2023 at -35.03, there's a glimmer of optimism as analysts predict profitability this year. This anticipated turnaround is supported by a modest revenue growth of 0.47% over the last twelve months and a more significant quarterly increase of 8.45% as of Q4 2023.

The company's stock has experienced a sizable price uptick over the last six months, posting a 25.79% total return, which could signal growing investor confidence. This performance is particularly noteworthy given the absence of dividend payouts to shareholders. The next earnings date is set for May 2, 2024, which will provide further clarity on the company's financial trajectory.

InvestingPro Tips suggest that while Envestnet has not been profitable over the last twelve months, there is an expectation of income growth this year. However, analysts have tempered this outlook with three downward revisions of earnings for the upcoming period. Additionally, the company is currently trading at high EBIT and EBITDA valuation multiples, indicating a premium price for its earnings before interest and taxes, and earnings before interest, taxes, depreciation, and amortization, respectively.

For those looking to delve deeper into Envestnet's financial health, additional InvestingPro Tips are available, offering a comprehensive analysis for informed decision-making. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and access the full list of tips that could further guide investment strategies. Visit https://www.investing.com/pro/ENV for more details.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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