EngageSmart, Inc. (NYSE:ESMT – Get Rating) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,650,000 shares, a growth of 7.8% from the November 15th total of 1,530,000 shares. Based on an average daily trading volume, of 541,600 shares, the short-interest ratio is presently 3.0 days. Currently, 8.1% of the shares of the company are sold short.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of EngageSmart in a report on Thursday, November 3rd. The Goldman Sachs Group reduced their target price on shares of EngageSmart from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, Raymond James reduced their target price on shares of EngageSmart from $31.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, November 4th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EngageSmart currently has an average rating of “Buy” and an average target price of $28.25.
Insider Transactions at EngageSmart
In other news, CEO Robert Paul Bennett sold 14,000 shares of EngageSmart stock in a transaction on Monday, October 10th. The shares were sold at an average price of $20.49, for a total transaction of $286,860.00. Following the completion of the sale, the chief executive officer now directly owns 1,154,192 shares in the company, valued at $23,649,394.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jonathan Cole Seltzer sold 8,334 shares of EngageSmart stock in a transaction on Monday, October 10th. The shares were sold at an average price of $20.54, for a total transaction of $171,180.36. Following the completion of the sale, the insider now directly owns 2,720 shares in the company, valued at $55,868.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Paul Bennett sold 14,000 shares of EngageSmart stock in a transaction on Monday, October 10th. The stock was sold at an average price of $20.49, for a total transaction of $286,860.00. Following the sale, the chief executive officer now owns 1,154,192 shares of the company’s stock, valued at $23,649,394.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,334 shares of company stock worth $731,460. Company insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESMT. Point72 Hong Kong Ltd purchased a new position in EngageSmart in the third quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of EngageSmart in the third quarter valued at about $31,000. Amalgamated Bank acquired a new stake in shares of EngageSmart in the first quarter valued at about $52,000. Sandia Investment Management LP acquired a new stake in shares of EngageSmart in the third quarter valued at about $52,000. Finally, Legal & General Group Plc grew its position in shares of EngageSmart by 134.2% in the second quarter. Legal & General Group Plc now owns 3,780 shares of the company’s stock valued at $61,000 after purchasing an additional 2,166 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.
EngageSmart Trading Up 3.4 %
ESMT traded up $0.58 on Friday, reaching $17.46. The stock had a trading volume of 1,015,127 shares, compared to its average volume of 514,469. EngageSmart has a 12-month low of $15.01 and a 12-month high of $25.26. The business’s 50-day moving average price is $18.24 and its two-hundred day moving average price is $18.97. The company has a market cap of $2.89 billion, a P/E ratio of 218.28 and a beta of 0.53.
EngageSmart Company Profile
EngageSmart, Inc provides Software-as-a-Service based customer engagement software and integrated payment solutions. It operates through two segments, Enterprise Solutions and SMB (small and medium sized business) Solutions. The companyoffers SimplePractice, an end-to-end practice management and electronic health record platform for health and wellness professionals to manage their practices; and InvoiceCloud, an electronic bill presentment and payment solution that helps government, utility, and financial services customers to digitize billing, client communications, and collections.