JPMorgan Chase & Co. Initiates Coverage on Enfusion (NYSE:ENFN)

JPMorgan Chase & Co. assumed coverage on shares of Enfusion (NYSE:ENFN – Get Rating) in a report released on Wednesday morning, The Fly reports. The firm issued a neutral rating and a $12.00 price objective on the stock.

ENFN has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price target on Enfusion from $14.00 to $9.50 and set a neutral rating for the company in a report on Thursday, January 26th. Bank of America downgraded Enfusion from a neutral rating to an underperform rating and cut their target price for the company from $15.00 to $10.00 in a research report on Wednesday, January 4th. Credit Suisse Group upped their target price on Enfusion to $14.00 in a research report on Wednesday, November 16th. Finally, Morgan Stanley raised Enfusion from an equal weight rating to an overweight rating and cut their price target for the stock from $13.00 to $12.00 in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Enfusion has an average rating of Hold and an average price target of $12.79.

Enfusion Stock Down 4.5 %

Shares of Enfusion stock opened at $10.45 on Wednesday. Enfusion has a 52 week low of $7.80 and a 52 week high of $16.76. The stock’s 50-day simple moving average is $11.18 and its 200-day simple moving average is $11.39. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -104.49 and a beta of 0.49.

Insiders Place Their Bets

In other Enfusion news, CTO Dan Groman sold 3,877 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $10.93, for a total value of $42,375.61. Following the sale, the chief technology officer now owns 80,976 shares of the company’s stock, valued at $885,067.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Stephen Malherbe sold 1,000,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $11.35, for a total transaction of $11,350,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Dan Groman sold 3,877 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $10.93, for a total transaction of $42,375.61. Following the transaction, the chief technology officer now owns 80,976 shares in the company, valued at $885,067.68. The disclosure for this sale can be found here. 40.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enfusion

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Enfusion by 9.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,000 shares of the company’s stock worth $116,000 after purchasing an additional 1,000 shares during the period. State of Wyoming increased its position in Enfusion by 1,048.1% during the fourth quarter. State of Wyoming now owns 9,139 shares of the company’s stock worth $88,000 after acquiring an additional 8,343 shares during the period. Franchise Capital Ltd bought a new stake in Enfusion in the 4th quarter valued at $1,821,000. Lazard Asset Management LLC bought a new stake in Enfusion in the 4th quarter valued at $28,000. Finally, Squarepoint Ops LLC bought a new stake in Enfusion in the 4th quarter valued at $180,000. Institutional investors and hedge funds own 49.38% of the company’s stock.

About Enfusion

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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. It provides portfolio management system, which generates a real-time investment book of record that consists of valuation and risk tools that 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.