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Bastone Bronwen, the Chief People Officer at Enfusion , Inc. (NYSE:ENFN), recently sold 3,126 shares of the company’s Class A common stock. The shares were sold on March 5 at a weighted average price of $11.375, resulting in a total transaction value of $35,558. The transaction comes as Enfusion, currently valued at $1.46 billion, trades near its 52-week high of $11.80, having gained nearly 40% over the past six months.
The sale was conducted to cover tax withholding obligations related to the issuance of shares, as noted in the filing. Following this transaction, Bronwen retains ownership of 221,875 shares of Enfusion stock. The shares were sold in multiple transactions with prices ranging from $11.32 to $11.455. According to InvestingPro data, Enfusion maintains a healthy financial position with a strong current ratio of 3.42 and operates with moderate debt levels. For deeper insights into Enfusion’s financial health and additional ProTips, subscribers can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Enfusion Inc. announced its fourth-quarter earnings results for 2024, coinciding with the company’s acquisition agreement with Clearwater Analytics. The acquisition, set at a price of $11.25 per share, has become a focal point for analysts and investors. Stifel analysts responded by maintaining a Hold rating on Enfusion, aligning their price target with the acquisition offer. Morgan Stanley (NYSE:MS) also adjusted its stance, downgrading Enfusion from Overweight to Equal-weight, while increasing the price target to $11.25 to reflect the acquisition terms.
Stifel had earlier downgraded Enfusion from Buy to Hold, reducing the price target from $13.00 to $11.25, as the acquisition price was deemed fair and unlikely to attract competing bids. The acquisition is expected to expedite value realization for shareholders, addressing past concerns about Enfusion’s limited public float and reliance on the startup hedge fund sector. Analysts at Morgan Stanley noted that Enfusion’s performance has been at the lower end of projections, with the acquisition offering a strategic advantage. The agreed price of $11.25 per share represents a 13% premium over the prior closing price, valuing the company at 6.4 times its projected FY25 enterprise value/revenue.
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