CHICAGO—Enfusion, Inc. (NYSE:ENFN) recently disclosed that its General Counsel, Matthew Campobasso, executed a sale of company shares. According to a Form 4 filing with the Securities and Exchange Commission, Campobasso sold 674 shares of Enfusion stock on October 22 at a weighted average price of $8.95 per share, totaling approximately $6,032.
The transaction was conducted to cover tax withholding obligations related to the issuance of the shares and does not represent discretionary trades by Campobasso. Following this transaction, Campobasso holds 53,627 shares of Enfusion stock directly.
This sale was part of routine financial management and reflects no change in Campobasso's commitment to the company.
In other recent news, Enfusion Inc. reported strong performance figures for Q2 2024, with revenues reaching $49.5 million, reflecting a 16% growth year-over-year. The company's adjusted EBITDA stood at $10.1 million, marking a margin of 20.5%. Major developments included Enfusion's continued expansion, strategic client acquisitions, and product enhancements. The company signed 39 new clients, bringing the total to 879, and made significant strides in the APAC and EMEA regions. Notably, Enfusion secured contracts with a US-based insurance company and Strategic Global Advisors. The company also released 267 software enhancements, expanding the functionalities of its Portfolio Workbench tool. Looking ahead, Enfusion confirmed its full-year guidance, with revenues expected between $200 million to $210 million, and adjusted EBITDA projected between $40 million to $45 million.
InvestingPro Insights
While Matthew Campobasso's recent share sale was primarily for tax purposes, it's worth examining Enfusion's financial position to provide context for investors. According to InvestingPro data, Enfusion has a market capitalization of $1.14 billion and is currently trading at a high P/E ratio of 235.25, suggesting investors have high growth expectations for the company.
An InvestingPro Tip indicates that Enfusion's net income is expected to grow this year, which aligns with the company's current valuation. Additionally, the company's revenue growth stands at 15.3% for the last twelve months as of Q2 2024, demonstrating solid top-line expansion.
Another InvestingPro Tip reveals that Enfusion operates with a moderate level of debt, which could provide financial flexibility as the company pursues growth opportunities. This is particularly relevant in the context of the company's high valuation multiples and the expectations they imply.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Enfusion, providing a deeper dive into the company's financial health and market position.
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