In a recent transaction, Matthew Majoros, Principal Accounting Officer of Envestnet, Inc. (NYSE:), 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, for a total transaction value of approximately $39,844.
Majoros’ transaction was disclosed in a Form 4 filed with the Securities and Exchange Commission. Following the sale, he remains a significant holder of Envestnet shares, with 15,212 shares still in his possession.
The transaction comes at a time when insider sales and purchases are often seen by investors as signals of confidence in the company’s future prospects. Envestnet, Inc., headquartered in Berwyn, Pennsylvania, is in the business services industry, providing wealth management technology and services to advisors and financial institutions.
Majoros’ share sale provides the latest insight into Envestnet’s insider business. Shareholders and potential investors often monitor such transactions to better understand how insiders are aligning their positions with the company’s performance and prospects.
It is worth noting that the disclosed transaction represents a direct sale of the property and is part of the regular financial disclosures required by company executives. The details of these transactions are publicly available and provide transparency in the financial dealings of company insiders.
Insights on InvestingPro
As Envestnet, Inc. (NYSE:ENV) continues to navigate the business services industry, recent insider transactions have caught the attention of shareholders and potential investors. Complementing this interest, InvestingPro insights reveal a nuanced financial perspective on the company.
Envestnet’s market capitalization stands at $3.16 billion, reflecting its position in the market. Despite a difficult period, with a negative price-to-earnings (P/E) ratio of -13.00 and an adjusted P/E ratio for the trailing twelve months as of the fourth quarter of 2023 at -35.03, there is a glimmer of optimism as analysts predict profitability this year. This expected turnaround is supported by modest revenue growth of 0.47% over the trailing twelve months and a more significant quarterly increase of 8.45% starting in Q4 2023.
The company’s shares have seen a notable price increase over the past six months, posting a total return of 25.79%, which could signal growing investor confidence. This performance is particularly noteworthy given the lack of dividend payments to shareholders. The next earnings date is set for May 2, 2024, which will provide further clarity on the company’s financial trajectory.
Tips from InvestingPro suggest that while Envestnet hasn’t been profitable in the last twelve months, there is an expectation of revenue growth this year. However, analysts tempered this outlook with three downward earnings revisions for the coming period. Additionally, the company currently trades 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, there are additional tips from InvestingPro, which offer comprehensive analysis for informed decision making. Use the coupon code PRONEWS24 to get an additional 10% discount on an annual or two-year Pro and Pro+ subscription and access the full list of tips that could further guide your investment strategies. Visit https://www.investing.com/pro/ENV for more details.
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