HBK Investments L P Takes Position in EngageSmart, Inc. (NYSE:ESMT)

HBK Investments L P purchased a new stake in shares of EngageSmart, Inc. (NYSE:ESMT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 40,000 shares of the company’s stock, valued at approximately $770,000.

Several other institutional investors have also made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in shares of EngageSmart during the 1st quarter valued at about $288,000. Macquarie Group Ltd. increased its position in shares of EngageSmart by 19.6% during the first quarter. Macquarie Group Ltd. now owns 2,353,203 shares of the company’s stock valued at $45,299,000 after purchasing an additional 385,860 shares during the period. Renaissance Technologies LLC increased its position in shares of EngageSmart by 32.9% during the first quarter. Renaissance Technologies LLC now owns 352,100 shares of the company’s stock valued at $6,778,000 after purchasing an additional 87,100 shares during the period. Renaissance Group LLC bought a new stake in EngageSmart in the first quarter valued at $1,668,000. Finally, Senator Investment Group LP grew its position in EngageSmart by 35.0% in the first quarter. Senator Investment Group LP now owns 1,350,000 shares of the company’s stock valued at $25,988,000 after acquiring an additional 350,000 shares during the period. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert Paul Bennett sold 14,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $18.67, for a total value of $261,380.00. Following the transaction, the chief executive officer now directly owns 838,491 shares of the company’s stock, valued at approximately $15,654,626.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Robert Paul Bennett sold 14,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $18.67, for a total value of $261,380.00. Following the transaction, the chief executive officer now directly owns 838,491 shares of the company’s stock, valued at approximately $15,654,626.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin William O’brien sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $17.83, for a total value of $53,490.00. Following the transaction, the insider now directly owns 25,657 shares in the company, valued at $457,464.31. The disclosure for this sale can be found here. Insiders have sold 70,500 shares of company stock valued at $1,283,740 in the last ninety days. 2.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

ESMT has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of EngageSmart in a research note on Friday, August 4th. JPMorgan Chase & Co. decreased their price target on EngageSmart from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Finally, The Goldman Sachs Group downgraded EngageSmart from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EngageSmart currently has an average rating of “Moderate Buy” and an average price target of $25.11.

EngageSmart Stock Down 0.8 %

ESMT traded down $0.14 during midday trading on Friday, hitting $17.50. 199,534 shares of the company were exchanged, compared to its average volume of 453,219. The firm has a market capitalization of $2.93 billion, a P/E ratio of 145.83, a P/E/G ratio of 3.07 and a beta of 0.46. EngageSmart, Inc. has a 1-year low of $15.01 and a 1-year high of $22.56. The firm’s 50 day moving average price is $17.88 and its 200-day moving average price is $18.12.

EngageSmart (NYSE:ESMT) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $94.41 million for the quarter, compared to the consensus estimate of $93.08 million. EngageSmart had a return on equity of 3.30% and a net margin of 5.82%. On average, sell-side analysts predict that EngageSmart, Inc. will post 0.22 earnings per share for the current fiscal year.

EngageSmart Company Profile

EngageSmart, Inc provides vertically-tailored customer engagement and integrated payments solutions. The company operates through Enterprise Solutions and SMB Solutions segments. The Enterprise Solutions segment offers SaaS solutions to customer-client engagement through electronic billing and digital payments.