Mirova US LLC Has $39.07 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Mirova US LLC lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 568,829 shares of the semiconductor company’s stock after selling 16,659 shares during the quarter. Mirova US LLC’s holdings in Enphase Energy were worth $39,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENPH. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares in the last quarter. Aspex Management HK Ltd acquired a new stake in shares of Enphase Energy during the third quarter worth $48,442,000. Montrusco Bolton Investments Inc. lifted its holdings in shares of Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after buying an additional 424,327 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after purchasing an additional 365,356 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $63.80 on Tuesday. The business’s 50-day moving average price is $63.25 and its 200-day moving average price is $78.62. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The firm has a market capitalization of $8.45 billion, a PE ratio of 86.22 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Redburn Atlantic assumed coverage on Enphase Energy in a research report on Monday, March 3rd. They issued a “neutral” rating on the stock. Wells Fargo & Company cut their price objective on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Barclays cut their price objective on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Piper Sandler cut their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Susquehanna cut their price objective on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Profile

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.