Oleg Movchan, the Chief Executive Officer of Enfusion, Inc. (NYSE:ENFN), a $1.32 billion market cap company that has shown strong revenue growth of 15.78% over the last twelve months, recently sold shares of the company’s Class A common stock, according to a filing with the Securities and Exchange Commission. Movchan sold a total of 2,771 shares, amounting to $28,070. The shares were sold at a weighted average price of $10.13, with prices ranging from $10.05 to $10.36 per share. According to InvestingPro, the company maintains strong liquidity with a current ratio of 3.62, indicating robust financial health.
The transaction was not a discretionary trade by Movchan but was required to cover tax withholding obligations related to the issuance of shares. Following this sale, Movchan, through CSL (OTC:) Tech Holdings LLC, holds 526,702 shares of Enfusion. Movchan serves as the manager of CSL Tech Holdings LLC and may have dispositive voting power over the shares held by the entity. He disclaims beneficial ownership except for his pecuniary interest. InvestingPro analysis reveals 10 additional investment tips for Enfusion, along with comprehensive valuation metrics available in the Pro Research Report.
In other recent news, Enfusion 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 $21.8%, amounting to $11.1 million. The company’s annual recurring revenue (ARR) surpassed $200 million, marking a 14% year-over-year increase. The company 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.
Enfusion’s revenue growth was notable across all regions, with 17% in the Americas, 22% in EMEA, and 6% in Asia-Pacific. The company has tightened its full-year revenue guidance to between $202 million and $205 million, with EBITDA guidance at $41 million to $45 million.
These are recent developments that highlight Enfusion’s strategic execution, which included attracting larger clients and expanding product offerings. The company’s management 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.
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