Enfusion (NYSE:ENFN) Shares Gap Down Following Insider Selling

Enfusion, Inc. (NYSE:ENFN)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $10.69, but opened at $10.47. Enfusion shares last traded at $10.40, with a volume of 32,964 shares.

Specifically, CFO Bradley Herring sold 24,443 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $10.61, for a total transaction of $259,340.23. Following the completion of the transaction, the chief financial officer now owns 270,503 shares of the company’s stock, valued at $2,870,036.83. This trade represents a 8.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENFN shares. Piper Sandler lifted their price objective on shares of Enfusion from $10.00 to $11.50 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Stifel Nicolaus lifted their price target on shares of Enfusion from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Enfusion presently has a consensus rating of “Hold” and an average price target of $10.25.

Enfusion Price Performance

The stock’s fifty day moving average price is $9.84 and its 200-day moving average price is $9.05. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 252.31, a price-to-earnings-growth ratio of 3.98 and a beta of 0.97.

Institutional Trading of Enfusion

Hedge funds have recently modified their holdings of the business. Scalar Gauge Management LLC boosted its holdings in shares of Enfusion by 21.8% during the second quarter. Scalar Gauge Management LLC now owns 613,513 shares of the company’s stock worth $5,227,000 after purchasing an additional 110,000 shares during the period. Wellington Management Group LLP lifted its position in Enfusion by 6.7% in the 3rd quarter. Wellington Management Group LLP now owns 976,296 shares of the company’s stock worth $9,265,000 after buying an additional 61,032 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Enfusion by 167.6% during the 2nd quarter. Renaissance Technologies LLC now owns 97,100 shares of the company’s stock valued at $827,000 after buying an additional 60,811 shares during the period. PDT Partners LLC purchased a new position in shares of Enfusion during the 3rd quarter valued at $867,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Enfusion in the second quarter worth $683,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.

About Enfusion

Enfusion, Inc provides software-as-a-service solutions for investment management industry in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company provides Portfolio Management System, which generates a real-time investment book of record that consists of valuation and risk tools, which allows users to analyze aggregated or decomposed portfolio data for chief investment officers (CIOs) and portfolio managers; and Order and Execution Management System that enables portfolio managers, traders, compliance teams, and analysts to electronically communicate trade orders for a variety of asset classes, manage trade orders, and systemically enforce trading regulations and internal guidelines.