In a recent filing with the Securities and Exchange Commission (SEC), Enfusion, Inc. (NYSE:ENFN), a $1.32 billion market cap company with strong revenue growth of ~16% over the last twelve months, disclosed that its Chief Financial Officer, Bradley Herring, sold a total of 4,134 shares of Class A Common Stock. The shares were sold at an average price of $10.13, amounting to a total transaction value of $41,877. According to InvestingPro analysis, the company maintains a GOOD financial health score.
The stock sale took place on January 7, 2025. According to the filing, the sale was made to cover tax withholding obligations related to the issuance of shares, rather than being a discretionary trade by Herring. Following this transaction, Herring's direct ownership stands at 266,369 shares.
Investors often keep a close eye on insider transactions, as they can provide insights into the executive's perspective on the company's valuation and future prospects.
In other recent news, Enfusion Inc. reported a successful third quarter in 2024, with a 15% increase in year-over-year revenue to $51.2 million and an adjusted EBITDA of $11.1 million, representing a 21.8% margin. The company's annual recurring revenue (ARR) surpassed $200 million, marking a 14% year-over-year increase. This robust growth was attributed to strategic execution, including attracting larger clients and expanding product offerings.
Enfusion signed 38 new clients, bringing the total to 894, and reported an average total value (ATV) of $229,000, up 5.7% year-over-year. Revenue growth was notable across all regions, with 17% in the Americas, 22% in EMEA, and 6% in Asia-Pacific. Furthermore, the company tightened its full-year revenue guidance to between $202 million and $205 million, with EBITDA guidance at $41 million to $45 million.
These are the latest developments from Enfusion, a company that remains confident in achieving its medium-term revenue growth target of 20% to 22% from 2025 to 2027. The company's strategic focus on product innovation and market expansion has led to a substantial increase in new client acquisitions and the enhancement of its product suite.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.