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

Enfusion, Inc. (NYSE:ENFN)’s stock 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 trading hands.

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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENFN. Stifel Nicolaus boosted their price objective 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. Piper Sandler upped their price objective on shares of Enfusion from $10.00 to $11.50 and gave the company a “neutral” rating in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.25.

Enfusion Stock Performance

The company has a fifty day moving average of $9.87 and a two-hundred day moving average of $9.07. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 252.31, a P/E/G ratio of 3.98 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ENFN. Arizona State Retirement System bought a new stake in shares of Enfusion during the second quarter valued at about $86,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Enfusion by 12.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,887 shares of the company’s stock worth $113,000 after acquiring an additional 1,315 shares during the last quarter. Belvedere Trading LLC bought a new stake in Enfusion in the third quarter worth $114,000. Paloma Partners Management Co purchased a new stake in Enfusion during the 3rd quarter valued at about $157,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Enfusion by 27.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,562 shares of the company’s stock valued at $167,000 after purchasing an additional 4,239 shares during the period. 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.