Enfusion, Inc. (NYSE:ENFN) Sees Large Increase in Short Interest

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

Enfusion Stock Down 1.3 %

Enfusion stock traded down $0.15 during trading on Friday, reaching $11.01. The stock had a trading volume of 841,875 shares, compared to its average volume of 1,352,900. Enfusion has a 52-week low of $7.83 and a 52-week 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 business has a 50 day moving average price of $10.76 and a 200 day moving average price of $9.57.

Analysts Set New Price Targets

ENFN has been the subject of several research reports. William Blair reiterated a “market perform” rating on shares of Enfusion in a research note on Monday, January 13th. Stifel Nicolaus increased their price target on shares of Enfusion from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler lifted their target price on Enfusion from $10.00 to $11.50 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Insiders Place Their Bets

In other Enfusion news, CFO Bradley Herring sold 24,443 shares of Enfusion stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 270,503 shares of the company’s stock, valued at $2,870,036.83. The trade was a 8.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Neal Pawar sold 21,801 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.03, for a total value of $218,664.03. Following the sale, the chief operating officer now owns 1,143,544 shares in the company, valued at approximately $11,469,746.32. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,367 shares of company stock worth $591,335 over the last three months. 36.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Enfusion

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Enfusion by 7.3% during the third quarter. Geode Capital Management LLC now owns 1,029,366 shares of the company’s stock worth $9,770,000 after purchasing an additional 70,367 shares during the period. Wellington Management Group LLP increased its position in Enfusion by 6.7% in the third quarter. Wellington Management Group LLP now owns 976,296 shares of the company’s stock worth $9,265,000 after purchasing an additional 61,032 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Enfusion by 612.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 208,022 shares of the company’s stock worth $1,974,000 after purchasing an additional 178,821 shares during the last quarter. Barclays PLC boosted its holdings in Enfusion by 251.4% during the third quarter. Barclays PLC now owns 86,039 shares of the company’s stock worth $817,000 after buying an additional 61,554 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Enfusion during the third quarter worth $867,000. 81.05% of the stock is currently owned by institutional investors and hedge funds.

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.