Enfusion (NYSE:ENFN) Sees Strong Trading Volume – Here’s What Happened

Enfusion, Inc. (NYSE:ENFN) saw unusually-high trading volume on Thursday . Approximately 1,375,855 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 1,346,222 shares.The stock last traded at $10.96 and had previously closed at $10.92.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENFN shares. Stifel Nicolaus increased 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. William Blair reissued a “market perform” rating on shares of Enfusion in a research note on Monday. Finally, Piper Sandler lifted their target price on Enfusion from $10.00 to $11.50 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.25.

Enfusion Stock Up 0.2 %

The company’s fifty day moving average is $10.22 and its two-hundred day moving average is $9.25. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 273.69, a PEG ratio of 1.58 and a beta of 0.95.

Insiders Place Their Bets

In other Enfusion news, CEO Oleg Movchan sold 2,771 shares of Enfusion stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $10.13, for a total transaction of $28,070.23. Following the completion of the transaction, the chief executive officer now owns 526,702 shares in the company, valued at approximately $5,335,491.26. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bradley Herring sold 24,443 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $10.61, for a total transaction of $259,340.23. Following the transaction, the chief financial officer now directly owns 270,503 shares of the company’s stock, valued at approximately $2,870,036.83. This trade represents a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,041 shares of company stock valued at $597,367 in the last ninety days. Insiders own 36.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Enfusion by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,029,366 shares of the company’s stock valued at $9,770,000 after purchasing an additional 70,367 shares in the last quarter. Wellington Management Group LLP raised its stake in Enfusion by 6.7% during the third quarter. Wellington Management Group LLP now owns 976,296 shares of the company’s stock valued at $9,265,000 after buying an additional 61,032 shares in the last quarter. State Street Corp lifted its holdings in Enfusion by 2.3% during the 3rd quarter. State Street Corp now owns 952,895 shares of the company’s stock worth $9,043,000 after buying an additional 21,729 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Enfusion by 25.4% in the 3rd quarter. Impax Asset Management Group plc now owns 676,948 shares of the company’s stock worth $6,424,000 after acquiring an additional 136,948 shares in the last quarter. Finally, Scalar Gauge Management LLC increased its holdings in shares of Enfusion by 21.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 613,513 shares of the company’s stock valued at $5,227,000 after acquiring an additional 110,000 shares during the last quarter. 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.