Enfusion (NYSE:ENFN) Shares Gap Down Following 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.

Specifically, CFO Bradley Herring sold 24,443 shares of the 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 transaction, the chief financial officer now owns 270,503 shares in the company, valued at approximately $2,870,036.83. This represents a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

ENFN has been the topic of several analyst reports. Piper Sandler increased their price target 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 increased their target price 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 equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Enfusion currently has an average rating of “Hold” and a consensus price target of $10.25.

Enfusion Trading Down 5.6 %

The company’s fifty day moving average is $9.84 and its 200-day moving average is $9.05. The firm has a market capitalization of $1.30 billion, a P/E ratio of 252.31, a P/E/G ratio of 3.98 and a beta of 0.97.

Institutional Investors Weigh In On Enfusion

A number of hedge funds have recently bought and sold shares of the company. Arizona State Retirement System acquired a new position in shares of Enfusion during the 2nd quarter worth about $86,000. Harbor Capital Advisors Inc. increased its position in 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 buying an additional 1,315 shares during the period. Belvedere Trading LLC acquired a new position in shares of Enfusion during the third quarter worth approximately $114,000. Paloma Partners Management Co bought a new stake in shares of Enfusion in the third quarter valued at approximately $157,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Enfusion by 27.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,562 shares of the company’s stock worth $167,000 after acquiring an additional 4,239 shares during the last quarter. 81.05% of the stock is currently owned by institutional investors.

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.