DnB Asset Management AS raised its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 84.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 212,531 shares of the semiconductor company’s stock after acquiring an additional 97,039 shares during the period. DnB Asset Management AS owned approximately 0.16% of Enphase Energy worth $44,691,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ardevora Asset Management LLP bought a new position in Enphase Energy during the 1st quarter valued at about $51,624,000. LGT Fund Management Co Ltd. lifted its stake in Enphase Energy by 58.7% during the 1st quarter. LGT Fund Management Co Ltd. now owns 10,840 shares of the semiconductor company’s stock valued at $2,279,000 after acquiring an additional 4,010 shares during the period. Carr Financial Group Corp lifted its stake in Enphase Energy by 47.1% during the 1st quarter. Carr Financial Group Corp now owns 1,250 shares of the semiconductor company’s stock valued at $263,000 after acquiring an additional 400 shares during the period. Redwood Wealth Management Group LLC lifted its stake in Enphase Energy by 67.9% during the 1st quarter. Redwood Wealth Management Group LLC now owns 4,885 shares of the semiconductor company’s stock valued at $1,027,000 after acquiring an additional 1,975 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Enphase Energy during the 1st quarter valued at about $48,000. Institutional investors own 71.94% of the company’s stock.
Insider Activity at Enphase Energy
In other Enphase Energy news, EVP David A. Ranhoff sold 1,791 shares of Enphase Energy stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $175.10, for a total transaction of $313,604.10. Following the completion of the transaction, the executive vice president now directly owns 82,644 shares of the company’s stock, valued at $14,470,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thurman J. Rodgers acquired 32,900 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was bought at an average cost of $166.88 per share, with a total value of $5,490,352.00. Following the completion of the purchase, the director now directly owns 32,900 shares of the company’s stock, valued at $5,490,352. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 1,791 shares of Enphase Energy stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $175.10, for a total transaction of $313,604.10. Following the transaction, the executive vice president now directly owns 82,644 shares of the company’s stock, valued at $14,470,964.40. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Enphase Energy from $280.00 to $240.00 in a research note on Thursday, April 27th. Truist Financial lowered their price objective on shares of Enphase Energy from $285.00 to $260.00 in a research note on Wednesday, April 26th. Bank of America cut shares of Enphase Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $227.00 to $169.00 in a research note on Wednesday, April 26th. Susquehanna upgraded shares of Enphase Energy from a “neutral” rating to a “positive” rating and set a $275.00 price objective on the stock in a research note on Wednesday, March 22nd. Finally, Morgan Stanley assumed coverage on shares of Enphase Energy in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $268.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.10.
Enphase Energy Trading Up 5.5 %
ENPH stock opened at $167.48 on Friday. The firm has a fifty day moving average price of $170.04 and a 200 day moving average price of $206.95. Enphase Energy, Inc. has a fifty-two week low of $152.15 and a fifty-two week high of $339.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 3.24 and a current ratio of 3.45. The firm has a market cap of $22.94 billion, a PE ratio of 48.97, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50.
Enphase Energy (NASDAQ:ENPH – Free Report) last posted its earnings results on Tuesday, April 25th. The semiconductor company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.27. Enphase Energy had a net margin of 18.83% and a return on equity of 74.86%. The firm had revenue of $726.02 million during the quarter, compared to analyst estimates of $723.44 million. Sell-side analysts anticipate that Enphase Energy, Inc. will post 4.2 earnings per share for the current fiscal year.
About Enphase Energy
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.
Further Reading
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