State of Alaska Department of Revenue Acquires 1,158 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

State of Alaska Department of Revenue raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,315 shares of the semiconductor company’s stock after purchasing an additional 1,158 shares during the quarter. State of Alaska Department of Revenue’s holdings in Enphase Energy were worth $4,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Elequin Capital LP bought a new position in Enphase Energy during the first quarter valued at $26,000. KB Financial Partners LLC bought a new stake in shares of Enphase Energy in the 1st quarter worth about $28,000. AlphaCentric Advisors LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth about $27,000. Lindbrook Capital LLC lifted its holdings in shares of Enphase Energy by 58.0% in the 1st quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 58 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Enphase Energy by 780.0% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 176 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 71.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ENPH. Needham & Company LLC raised their target price on shares of Enphase Energy from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Cowen lifted their price objective on shares of Enphase Energy from $240.00 to $278.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Oppenheimer lifted their price objective on shares of Enphase Energy to $315.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Piper Sandler lifted their price objective on shares of Enphase Energy from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Finally, Craig Hallum lifted their price objective on shares of Enphase Energy from $213.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.17.

Enphase Energy Stock Down 3.6 %

Shares of Enphase Energy stock opened at $304.71 on Wednesday. The firm’s 50 day moving average price is $277.29 and its 200-day moving average price is $216.09. The company has a quick ratio of 3.35, a current ratio of 3.62 and a debt-to-equity ratio of 2.66. Enphase Energy, Inc. has a 52-week low of $113.40 and a 52-week high of $324.84. The company has a market cap of $41.28 billion, a P/E ratio of 213.09, a PEG ratio of 2.33 and a beta of 1.51.

Enphase Energy (NASDAQ:ENPHGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. Enphase Energy had a net margin of 11.71% and a return on equity of 56.60%. The firm had revenue of $530.20 million for the quarter, compared to the consensus estimate of $506.57 million. On average, sell-side analysts predict that Enphase Energy, Inc. will post 2.9 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of Enphase Energy stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 1,059,051 shares in the company, valued at approximately $211,810,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Steven J. Gomo sold 35,822 shares of Enphase Energy stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $279.21, for a total value of $10,001,860.62. Following the completion of the sale, the director now directly owns 41,456 shares in the company, valued at approximately $11,574,929.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 38,650 shares of Enphase Energy stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $200.00, for a total transaction of $7,730,000.00. Following the completion of the sale, the chief executive officer now owns 1,059,051 shares of the company’s stock, valued at $211,810,200. The disclosure for this sale can be found here. Insiders have sold a total of 203,271 shares of company stock valued at $56,273,642 in the last 90 days. Insiders own 4.80% of the company’s stock.

Enphase Energy 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.

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

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