Enphase Energy, Inc. (NASDAQ:ENPH) Position Boosted by Gradient Investments LLC

Gradient Investments LLC lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 77.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,768 shares of the semiconductor company’s stock after purchasing an additional 770 shares during the period. Gradient Investments LLC’s holdings in Enphase Energy were worth $345,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in Enphase Energy by 7.4% during the fourth quarter. BlackRock Inc. now owns 14,961,479 shares of the semiconductor company’s stock worth $2,737,054,000 after acquiring an additional 1,030,920 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $187,827,000. 1832 Asset Management L.P. raised its stake in Enphase Energy by 1,207.5% during the first quarter. 1832 Asset Management L.P. now owns 608,789 shares of the semiconductor company’s stock worth $121,238,000 after acquiring an additional 562,229 shares during the period. Clearbridge Investments LLC raised its stake in Enphase Energy by 86.2% during the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after acquiring an additional 370,992 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Enphase Energy by 22.4% in the first quarter. Brown Advisory Inc. now owns 1,503,239 shares of the semiconductor company’s stock valued at $302,984,000 after purchasing an additional 275,423 shares during the period. Institutional investors own 71.22% of the company’s stock.

Enphase Energy Stock Down 0.6 %

Enphase Energy stock opened at $316.23 on Tuesday. The company has a market capitalization of $42.84 billion, a P/E ratio of 221.14, a P/E/G ratio of 2.33 and a beta of 1.51. The firm’s fifty day simple moving average is $274.98 and its 200-day simple moving average is $215.47. The company has a current ratio of 3.62, a quick ratio of 3.35 and a debt-to-equity ratio of 2.66. Enphase Energy, Inc. has a 1-year low of $113.40 and a 1-year high of $324.84.

Enphase Energy (NASDAQ:ENPHGet Rating) last released its quarterly earnings results 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 net margin of 11.71% and a return on equity of 56.60%. Sell-side analysts forecast that Enphase Energy, Inc. will post 2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. Craig Hallum raised their price objective on shares of Enphase Energy from $213.00 to $271.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. KeyCorp raised their price objective on shares of Enphase Energy from $230.00 to $363.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Piper Sandler raised their price objective on shares of Enphase Energy from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Truist Financial raised their price objective on shares of Enphase Energy to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, Oppenheimer raised their price objective on shares of Enphase Energy to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $273.17.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of Enphase Energy stock in a transaction 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 transaction, the chief executive officer now owns 1,059,051 shares in the company, valued at approximately $211,810,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of Enphase Energy stock in a transaction 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 transaction, the chief executive officer now owns 1,059,051 shares in the company, valued at approximately $211,810,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 35,822 shares of Enphase Energy stock in a transaction 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 owns 41,456 shares in the company, valued at approximately $11,574,929.76. The disclosure for this sale can be found here. Insiders have sold 203,271 shares of company stock worth $56,273,642 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Enphase Energy Company Profile

(Get Rating)

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

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPHGet Rating).

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

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.