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

Enfusion, Inc. (NYSE:ENFN) shares gapped down before the market opened on Friday following insider selling activity. 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 Enfusion stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $10.61, for a total value of $259,340.23. Following the sale, the chief financial officer now owns 270,503 shares of the company’s stock, valued at approximately $2,870,036.83. The trade was a 8.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

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

Enfusion Stock Down 3.9 %

The business has a 50 day moving average of $9.84 and a 200 day moving average of $9.05. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 256.81, a price-to-earnings-growth ratio of 3.98 and a beta of 0.97.

Hedge Funds Weigh In On Enfusion

Institutional investors have recently modified their holdings of the company. Arizona State Retirement System purchased a new position in shares of Enfusion during the 2nd quarter worth $86,000. Harbor Capital Advisors Inc. boosted its position in shares of Enfusion by 12.4% in the third 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 acquired a new position in Enfusion during the third quarter worth approximately $114,000. Paloma Partners Management Co acquired a new position in shares of Enfusion in the 3rd quarter valued at $157,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Enfusion by 27.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,562 shares of the company’s stock worth $167,000 after buying an additional 4,239 shares during the period. Institutional investors and hedge funds own 81.05% of the company’s stock.

Enfusion Company Profile

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.