Wedmont Private Capital Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Wedmont Private Capital grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199 shares of the semiconductor company’s stock after acquiring an additional 174 shares during the period. Wedmont Private Capital’s holdings in Enphase Energy were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Lindbrook Capital LLC lifted its position in shares of Enphase Energy by 58.0% during the first quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 58 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Enphase Energy by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 17,876 shares of the semiconductor company’s stock worth $3,607,000 after purchasing an additional 61 shares during the period. Parallel Advisors LLC increased its holdings in shares of Enphase Energy by 7.1% in the first quarter. Parallel Advisors LLC now owns 1,027 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 68 shares during the period. CVA Family Office LLC increased its holdings in shares of Enphase Energy by 56.0% in the first quarter. CVA Family Office LLC now owns 195 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Enphase Energy by 1.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,222 shares of the semiconductor company’s stock worth $852,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $304.71 on Wednesday. The company has a 50-day simple moving average of $277.29 and a two-hundred day simple moving average of $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 12-month low of $113.40 and a 12-month high of $324.84. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 213.09, a PEG ratio of 2.33 and a beta of 1.51.

Enphase Energy (NASDAQ:ENPHGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.15. The business had revenue of $530.20 million during the quarter, compared to analyst estimates of $506.57 million. Enphase Energy had a net margin of 11.71% and a return on equity of 56.60%. On average, equities analysts forecast that Enphase Energy, Inc. will post 2.9 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman sold 36,083 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $296.52, for a total transaction of $10,699,331.16. Following the completion of the sale, the chief executive officer now directly owns 1,095,133 shares in the company, valued at $324,728,837.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Steven J. Gomo sold 35,822 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $279.21, for a total transaction of $10,001,860.62. Following the completion of the sale, the director now directly owns 41,456 shares in the company, valued at $11,574,929.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 36,083 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $296.52, for a total transaction of $10,699,331.16. Following the sale, the chief executive officer now owns 1,095,133 shares of the company’s stock, valued at $324,728,837.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 203,271 shares of company stock worth $56,273,642. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. B. Riley upped their price target on shares of Enphase Energy from $171.00 to $217.00 in a report on Wednesday, July 27th. Piper Sandler upped their price target on shares of Enphase Energy from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Truist Financial upped their price target on shares of Enphase Energy to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Enphase Energy in a report on Sunday, July 31st. Finally, Barclays began coverage on Enphase Energy in a research note on Friday, August 5th. They issued an “equal weight” rating and a $292.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.17.

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.

See Also

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

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