Enfusion director Somers sells $17,237 in stock to cover taxes

In a recent transaction, Deirdre Somers, a director at Enfusion, Inc. (NYSE:ENFN), sold 1,637 shares of Class A Common Stock. The sale, executed on January 13, 2025, was made at a weighted average price of $10.53 per share, amounting to a total of $17,237. The stock, which has shown strong momentum with a 23% return over the past year according to InvestingPro, currently trades at $10.92 and near its 52-week high of $11.38. This transaction was required to cover tax withholding obligations associated with the issuance of shares and was not a discretionary trade by Somers. Following this sale, Somers retains ownership of 41,675 shares directly. The company maintains a healthy financial position with a current ratio of 3.62 and operates with moderate debt levels. InvestingPro subscribers can access 12 additional key insights and a comprehensive analysis of Enfusion's financial health.

In other recent news, Enfusion has been the subject of recent analyst downgrades due to its impending acquisition by Clearwater Analytics. Morgan Stanley (NYSE:MS) downgraded Enfusion's stock from Overweight to Equal-weight, while Stifel analysts changed their rating from Buy to Hold. Both firms adjusted their price targets to $11.25, in line with the acquisition price.

The acquisition by Clearwater is seen as a way to expedite value realization for Enfusion's shareholders. It's also seen as a solution to past concerns such as Enfusion's limited public float and its perceived dependence on the fluctuating startup hedge fund sector.

Despite these downgrades, Enfusion reported a successful Q3 in 2024, with a 15% increase in year-over-year revenue to $51.2 million and an adjusted EBITDA of $11.1 million. The company's annual recurring revenue surpassed $200 million, marking a 14% year-over-year increase. Management remains confident in achieving its medium-term revenue growth target of 20% to 22% from 2025 to 2027.

These developments are part of a series of recent changes for the company, which include the acquisition agreement with Clearwater and the subsequent adjustments by Morgan Stanley and Stifel.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.