ProShare Advisors LLC decreased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,080 shares of the semiconductor company’s stock after selling 4,563 shares during the quarter. ProShare Advisors LLC’s holdings in Enphase Energy were worth $24,800,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Profund Advisors LLC boosted its holdings in Enphase Energy by 14.9% during the second quarter. Profund Advisors LLC now owns 14,353 shares of the semiconductor company’s stock valued at $2,404,000 after purchasing an additional 1,858 shares in the last quarter. Nicola Wealth Management LTD. grew its position in Enphase Energy by 29.7% in the second quarter. Nicola Wealth Management LTD. now owns 24,000 shares of the semiconductor company’s stock valued at $4,020,000 after acquiring an additional 5,500 shares during the period. Commonwealth Equity Services LLC raised its stake in Enphase Energy by 9.8% during the second quarter. Commonwealth Equity Services LLC now owns 82,588 shares of the semiconductor company’s stock worth $13,832,000 after acquiring an additional 7,356 shares in the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of Enphase Energy by 3.7% during the second quarter. Legacy Capital Group California Inc. now owns 3,452 shares of the semiconductor company’s stock valued at $578,000 after acquiring an additional 122 shares during the period. Finally, Shelton Capital Management grew its holdings in shares of Enphase Energy by 1.1% in the 2nd quarter. Shelton Capital Management now owns 45,256 shares of the semiconductor company’s stock worth $7,579,000 after purchasing an additional 510 shares during the last quarter. 71.05% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ENPH has been the topic of a number of recent analyst reports. HSBC lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Friday, October 27th. Barclays reduced their target price on Enphase Energy from $155.00 to $140.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Citigroup dropped their price target on Enphase Energy from $170.00 to $167.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. TD Cowen decreased their target price on Enphase Energy from $313.00 to $262.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Finally, Morgan Stanley reduced their price target on shares of Enphase Energy from $135.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $178.17.
Insider Transactions at Enphase Energy
In other Enphase Energy news, Director Thurman J. Rodgers acquired 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $122.76 per share, for a total transaction of $4,001,976.00. Following the transaction, the director now owns 85,200 shares of the company’s stock, valued at $10,459,152. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $90.23 per share, with a total value of $100,877.14. Following the completion of the transaction, the chief executive officer now directly owns 1,272,015 shares of the company’s stock, valued at $114,773,913.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers bought 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $122.76 per share, for a total transaction of $4,001,976.00. Following the transaction, the director now owns 85,200 shares in the company, valued at approximately $10,459,152. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by insiders.
Enphase Energy Stock Up 6.1 %
Enphase Energy stock opened at $98.50 on Tuesday. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $339.92. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.38 and a beta of 1.59. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.36 and a quick ratio of 3.13. The company’s 50 day simple moving average is $105.71 and its 200 day simple moving average is $139.47.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.71 by $0.13. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate of $562.27 million. Enphase Energy had a return on equity of 63.06% and a net margin of 21.08%. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 3.34 EPS for the current 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.
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