Envestnet (ENV) Flagged for Potential Activist Activity - Analyst

May 18, 2021 11:04 AM EDT
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Envestnet (NYSE: ENV) could have picked up an activist investor, according to Gordon Haskett analyst Don Bilson who cites a new 13-F from Bank of America showing a new 1.5 million shares stake. Although BofA is not the normal place for activists, the stake could indicate a swap agreement with the activist.

Bilson notes last quarter, Carl Icahn's stake in First Energy (NYSE: FE) first showed up in a BofA 13-F. That said, Bilson doesn't think this is Carl or his son Brett given the size.

An activist could try to split Yodlee out of the company, something that was recently discussed.



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