Enfusion, Inc. (NYSE:ENFN) Sees Significant Growth in Short Interest

Enfusion, Inc. (NYSE:ENFN) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,010,000 shares, an increase of 41.9% from the January 15th total of 711,700 shares. Based on an average daily trading volume, of 797,400 shares, the days-to-cover ratio is currently 1.3 days. Approximately 2.4% of the shares of the company are short sold.

Enfusion Stock Performance

NYSE:ENFN opened at $11.01 on Friday. Enfusion has a one year low of $7.83 and a one year high of $11.38. The stock has a market cap of $1.41 billion, a PE ratio of 275.19, a P/E/G ratio of 1.83 and a beta of 0.96. The stock has a 50 day moving average price of $10.76 and a 200 day moving average price of $9.57.

Insider Activity at Enfusion

In other news, COO Neal Pawar sold 21,801 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.03, for a total transaction of $218,664.03. Following the completion of the transaction, the chief operating officer now directly owns 1,143,544 shares of the company’s stock, valued at $11,469,746.32. This represents a 1.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Oleg Movchan sold 2,771 shares of Enfusion stock in a transaction on 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 sale, the chief executive officer now directly owns 526,702 shares in the company, valued at $5,335,491.26. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,367 shares of company stock worth $591,335. 36.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enfusion

A number of hedge funds have recently modified their holdings of ENFN. New York State Common Retirement Fund boosted its holdings in Enfusion by 23.8% in the 4th quarter. New York State Common Retirement Fund now owns 1,926,968 shares of the company’s stock valued at $19,848,000 after purchasing an additional 370,498 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Enfusion by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,050,549 shares of the company’s stock valued at $10,823,000 after acquiring an additional 21,183 shares during the last quarter. Wellington Management Group LLP grew its position in Enfusion by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 1,035,996 shares of the company’s stock worth $10,671,000 after acquiring an additional 59,700 shares during the period. State Street Corp increased its stake in Enfusion by 2.3% during the third quarter. State Street Corp now owns 952,895 shares of the company’s stock worth $9,043,000 after acquiring an additional 21,729 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Enfusion by 31.5% in the fourth quarter. Impax Asset Management Group plc now owns 890,000 shares of the company’s stock valued at $9,167,000 after purchasing an additional 213,052 shares during the period. Hedge funds and other institutional investors own 81.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. William Blair reissued a “market perform” rating on shares of Enfusion in a research note on Monday, January 13th. 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, December 23rd. Finally, Stifel Nicolaus raised their price objective on Enfusion from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enfusion currently has a consensus rating of “Hold” and a consensus price target of $10.50.

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.