Enfusion (NYSE:ENFN) Sees Strong Trading Volume – Still a Buy?

Shares of Enfusion, Inc. (NYSE:ENFNGet Free Report) saw strong trading volume on Thursday . 1,375,855 shares were traded 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.

Analysts Set New Price Targets

ENFN has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Enfusion from $10.00 to $11.50 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Stifel Nicolaus increased their price target on Enfusion from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, William Blair reiterated a “market perform” rating on shares of Enfusion in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.25.

Check Out Our Latest Stock Report on ENFN

Enfusion Stock Up 0.9 %

The business has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $9.28. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 276.44, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95.

Insiders Place Their Bets

In related news, CEO Oleg Movchan sold 2,771 shares of Enfusion stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $10.13, for a total transaction of $28,070.23. Following the sale, the chief executive officer now directly owns 526,702 shares in the company, valued at approximately $5,335,491.26. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Neal Pawar sold 21,801 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.03, for a total value of $218,664.03. Following the completion of the transaction, the chief operating officer now owns 1,143,544 shares of the company’s stock, valued at $11,469,746.32. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,041 shares of company stock worth $597,367. Insiders own 36.44% of the company’s stock.

Hedge Funds Weigh In On Enfusion

A number of hedge funds and other institutional investors have recently made changes to their positions in ENFN. Bank of New York Mellon Corp raised its position in Enfusion by 29.4% in the second quarter. Bank of New York Mellon Corp now owns 159,555 shares of the company’s stock worth $1,359,000 after acquiring an additional 36,257 shares during the period. Rhumbline Advisers raised its holdings in shares of Enfusion by 30.3% in the 2nd quarter. Rhumbline Advisers now owns 59,435 shares of the company’s stock worth $506,000 after purchasing an additional 13,832 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Enfusion in the 2nd quarter worth approximately $183,000. American Century Companies Inc. lifted its stake in Enfusion by 17.1% in the second quarter. American Century Companies Inc. now owns 35,897 shares of the company’s stock valued at $306,000 after purchasing an additional 5,253 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Enfusion by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,142 shares of the company’s stock valued at $4,466,000 after purchasing an additional 191,436 shares during the period. 81.05% of the stock is owned by hedge funds and other institutional investors.

About Enfusion

(Get Free Report)

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.

Further Reading

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