Steward Partners Investment Advisory LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,915 shares of the semiconductor company’s stock after selling 877 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Enphase Energy were worth $588,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of ENPH. Regentatlantic Capital LLC raised its position in Enphase Energy by 9.6% during the 1st quarter. Regentatlantic Capital LLC now owns 7,661 shares of the semiconductor company’s stock worth $1,546,000 after buying an additional 673 shares during the last quarter. Silver Lake Advisory LLC raised its position in Enphase Energy by 15.1% during the 1st quarter. Silver Lake Advisory LLC now owns 2,423 shares of the semiconductor company’s stock worth $489,000 after buying an additional 318 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Enphase Energy by 329.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 751 shares of the semiconductor company’s stock worth $148,000 after buying an additional 576 shares during the last quarter. Signaturefd LLC raised its position in Enphase Energy by 23.7% during the 1st quarter. Signaturefd LLC now owns 949 shares of the semiconductor company’s stock worth $191,000 after buying an additional 182 shares during the last quarter. Finally, Vancity Investment Management Ltd raised its position in Enphase Energy by 8.1% during the 1st quarter. Vancity Investment Management Ltd now owns 50,628 shares of the semiconductor company’s stock worth $10,216,000 after buying an additional 3,776 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.
Insider Activity at Enphase Energy
In related news, Director Benjamin John Kortlang sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $197.89, for a total value of $4,947,250.00. Following the completion of the transaction, the director now directly owns 249,289 shares of the company’s stock, valued at $49,331,800.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Benjamin John Kortlang sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $197.89, for a total value of $4,947,250.00. Following the completion of the sale, the director now directly owns 249,289 shares of the company’s stock, valued at $49,331,800.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $200.00, for a total value of $7,730,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,051 shares of the company’s stock, valued at $211,810,200. The disclosure for this sale can be found here. Insiders sold 153,850 shares of company stock valued at $30,289,084 over the last three months. 4.80% of the stock is owned by corporate insiders.
Enphase Energy Stock Performance
Shares of Enphase Energy stock opened at $254.77 on Thursday. Enphase Energy, Inc. has a one year low of $113.40 and a one year high of $282.46. The company has a market cap of $34.40 billion, a PE ratio of 217.75, a P/E/G ratio of 2.25 and a beta of 1.37. The company has a debt-to-equity ratio of 3.62, a quick ratio of 3.22 and a current ratio of 3.44. The business has a 50-day simple moving average of $195.26 and a 200-day simple moving average of $174.35.
Enphase Energy (NASDAQ:ENPH – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $441.29 million during the quarter, compared to the consensus estimate of $434.21 million. Enphase Energy had a return on equity of 45.30% and a net margin of 10.88%. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities research analysts forecast that Enphase Energy, Inc. will post 2.35 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Enphase Energy from $241.00 to $250.00 in a research report on Wednesday. Susquehanna lifted their target price on shares of Enphase Energy from $250.00 to $260.00 in a report on Wednesday. Craig Hallum lifted their target price on shares of Enphase Energy from $213.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday. Stephens initiated coverage on shares of Enphase Energy in a report on Wednesday, April 13th. They set an “overweight” rating and a $280.00 target price for the company. Finally, B. Riley lifted their target price on shares of Enphase Energy from $171.00 to $217.00 in a report on Wednesday. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.57.
Enphase Energy Company Profile
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Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
See Also
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