Is it Worthy to Invest in Envestnet (ENV)?

Upslope Capital Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly portfolio net return of -0.3% was recorded by the fund for the first quarter of 2022, compared to the S&P Midcap 400 ETF and the HFRX Equity Hedge Index that delivered -5.0% and -0.3% gains for the same period. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Upslope Capital mentioned Envestnet, Inc. (NYSE:ENV) and explained its insights for the company. Founded in 1999, Envestnet, Inc. (NYSE:ENV)  is a Berwyn, Pennsylvania-based financial services company with a $4.5 billion market capitalization. Envestnet, Inc. (NYSE:ENV)  delivered a 4.68% return since the beginning of the year, while its 12-month returns are up by 12.72%. The stock closed at $83.05 per share on April 25, 2022. 

Here is what Upslope Capital has to say about Envestnet, Inc. (NYSE:ENV) in its Q1 2022 investor letter:

“Envestnet (NYSE:ENV): Dominant wealth management technology platform with incredibly sticky offering. Recent initiatives and management actions combined with unique assets significantly elevate the odds of a “turnaround or takeout (divestiture)” outcome.”

Research, Investment, Finance

Our calculations show that Envestnet, Inc. (NYSE:ENV) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Envestnet, Inc. (NYSE:ENV) was in 21 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 12 funds in the previous quarter. Envestnet, Inc. (NYSE:ENV) delivered a 15.00% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on Envestnet, Inc. (NYSE:ENV) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.