Enphase Energy, Inc. (NASDAQ:ENPH) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 37.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 100,873 shares of the semiconductor company’s stock after acquiring an additional 27,361 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Enphase Energy worth $20,354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ENPH. BlackRock Inc. lifted its position in shares of Enphase Energy by 7.4% during the 4th quarter. BlackRock Inc. now owns 14,961,479 shares of the semiconductor company’s stock valued at $2,737,054,000 after acquiring an additional 1,030,920 shares during the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $187,827,000. Renaissance Technologies LLC acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $155,157,000. Allianz Asset Management GmbH lifted its position in shares of Enphase Energy by 13.6% during the 4th quarter. Allianz Asset Management GmbH now owns 1,464,107 shares of the semiconductor company’s stock valued at $267,902,000 after acquiring an additional 174,932 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Enphase Energy by 3.3% during the 4th quarter. State Street Corp now owns 5,222,204 shares of the semiconductor company’s stock valued at $955,350,000 after acquiring an additional 166,746 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENPH. Cowen increased their target price on Enphase Energy from $240.00 to $278.00 and gave the company a “maintains” rating in a report on Wednesday, July 27th. Craig Hallum increased their target price on Enphase Energy from $213.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. TheStreet upgraded Enphase Energy from a “c+” rating to a “b” rating in a report on Thursday, April 7th. Oppenheimer increased their target price on Enphase Energy to $315.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Company increased their target price on Enphase Energy from $265.00 to $313.00 and gave the company a “maintains” rating in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.61.

Enphase Energy Stock Up 4.0 %

Shares of ENPH stock opened at $292.26 on Wednesday. The stock’s 50 day simple moving average is $204.58 and its 200 day simple moving average is $178.37. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.35 and a current ratio of 3.62. Enphase Energy, Inc. has a twelve month low of $113.40 and a twelve month high of $290.47. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 204.38, a PEG ratio of 2.41 and a beta of 1.50.

Enphase Energy (NASDAQ:ENPHGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $530.20 million for the quarter, compared to the consensus estimate of $506.57 million. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. As a group, research analysts predict that Enphase Energy, Inc. will post 2.76 EPS for the current year.

Insider Transactions at Enphase Energy

In other 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 transaction of $4,947,250.00. Following the completion of the transaction, the director now directly owns 249,289 shares in the company, valued at $49,331,800.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Steven J. Gomo sold 35,822 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $279.21, for a total transaction of $10,001,860.62. Following the completion of the transaction, the director now directly owns 41,456 shares in the company, valued at $11,574,929.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 249,289 shares of the company’s stock, valued at $49,331,800.21. The disclosure for this sale can be found here. Insiders sold a total of 189,672 shares of company stock worth $40,290,945 over the last three months. 4.80% of the stock is currently owned by insiders.

Enphase Energy 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.

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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