Kestra Advisory Services LLC Has $1.49 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Kestra Advisory Services LLC increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 25.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,386 shares of the semiconductor company’s stock after acquiring an additional 1,082 shares during the quarter. Kestra Advisory Services LLC’s holdings in Enphase Energy were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Enphase Energy by 2.8% during the 2nd quarter. Brighton Jones LLC now owns 1,276 shares of the semiconductor company’s stock worth $249,000 after buying an additional 35 shares during the period. Summit Trail Advisors LLC boosted its position in Enphase Energy by 3.9% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,082 shares of the semiconductor company’s stock worth $211,000 after buying an additional 41 shares during the period. Baillie Gifford & Co. boosted its position in Enphase Energy by 4.2% during the 3rd quarter. Baillie Gifford & Co. now owns 1,168 shares of the semiconductor company’s stock worth $325,000 after buying an additional 47 shares during the period. Glassman Wealth Services boosted its position in Enphase Energy by 55.1% during the 2nd quarter. Glassman Wealth Services now owns 138 shares of the semiconductor company’s stock worth $27,000 after buying an additional 49 shares during the period. Finally, Sandy Spring Bank boosted its position in Enphase Energy by 6.5% during the 2nd quarter. Sandy Spring Bank now owns 820 shares of the semiconductor company’s stock worth $160,000 after buying an additional 50 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $228.44 on Tuesday. The company has a fifty day simple moving average of $286.56 and a 200 day simple moving average of $278.45. Enphase Energy, Inc. has a 12-month low of $113.40 and a 12-month high of $339.92. The company has a current ratio of 3.60, a quick ratio of 3.34 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.05 billion, a P/E ratio of 109.83, a PEG ratio of 1.16 and a beta of 1.38.

Enphase Energy (NASDAQ:ENPH – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.11. The business had revenue of $634.71 million during the quarter, compared to the consensus estimate of $616.50 million. Enphase Energy had a net margin of 14.67% and a return on equity of 76.66%. Sell-side analysts predict that Enphase Energy, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent research reports. Susquehanna downgraded shares of Enphase Energy from a “positive” rating to a “neutral” rating and lifted their target price for the stock from $310.00 to $365.00 in a research report on Thursday, December 15th. Daiwa Capital Markets assumed coverage on shares of Enphase Energy in a report on Friday, December 23rd. They set an “outperform” rating and a $335.00 price target for the company. Susquehanna Bancshares lowered shares of Enphase Energy to a “neutral” rating and set a $365.00 price target for the company. in a report on Thursday, December 15th. JPMorgan Chase & Co. lowered their price target on shares of Enphase Energy from $321.00 to $289.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Finally, Truist Financial raised their price target on shares of Enphase Energy from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, October 18th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy has an average rating of “Moderate Buy” and a consensus target price of $310.35.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 7,500 shares of Enphase Energy stock in a transaction on Monday, November 21st. The shares were sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the transaction, the executive vice president now directly owns 85,402 shares of the company’s stock, valued at approximately $25,913,528.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 7,500 shares of Enphase Energy stock in a transaction on Monday, November 21st. The shares were sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the transaction, the executive vice president now directly owns 85,402 shares of the company’s stock, valued at approximately $25,913,528.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 36,327 shares of Enphase Energy stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $327.65, for a total transaction of $11,902,541.55. Following the transaction, the chief executive officer now directly owns 1,131,459 shares in the company, valued at $370,722,541.35. The disclosure for this sale can be found here. Insiders have sold 201,128 shares of company stock valued at $63,385,815 in the last three months. 4.80% of the stock is currently owned by insiders.

Enphase Energy Company 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.