National Pension Service Sells 26,334 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

National Pension Service cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 12.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,454 shares of the semiconductor company’s stock after selling 26,334 shares during the quarter. National Pension Service owned approximately 0.14% of Enphase Energy worth $51,527,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Panagora Asset Management Inc. lifted its holdings in shares of Enphase Energy by 42.5% during the first quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock valued at $813,000 after acquiring an additional 1,201 shares during the period. Raymond James Trust N.A. bought a new position in shares of Enphase Energy in the first quarter valued at about $249,000. Cibc World Market Inc. raised its holdings in shares of Enphase Energy by 219.1% in the first quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after buying an additional 3,653 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Enphase Energy by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after buying an additional 6,401 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Enphase Energy by 8.7% in the first quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock valued at $457,000 after buying an additional 182 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ENPH. Janney Montgomery Scott raised Enphase Energy from a “neutral” rating to a “buy” rating and set a $282.00 price target for the company in a report on Monday, February 27th. Truist Financial cut their price target on Enphase Energy from $325.00 to $285.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Cowen lifted their price objective on Enphase Energy from $335.00 to $341.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. OTR Global lowered Enphase Energy to a “positive” rating in a research report on Tuesday, January 24th. Finally, Citigroup lifted their price objective on Enphase Energy from $205.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, March 10th. Seven research analysts have rated the stock with a hold rating and nineteen have assigned 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 $306.20.

Enphase Energy Trading Down 3.4 %

NASDAQ:ENPH opened at $205.76 on Thursday. Enphase Energy, Inc. has a fifty-two week low of $128.67 and a fifty-two week high of $339.92. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.55 and a quick ratio of 3.31. The stock has a market capitalization of $28.09 billion, a PE ratio of 74.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The business’s 50-day simple moving average is $220.48 and its 200-day simple moving average is $266.71.

Insider Activity

In other news, EVP David A. Ranhoff sold 7,500 shares of Enphase Energy stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $203.25, for a total transaction of $1,524,375.00. Following the transaction, the executive vice president now owns 97,102 shares in the company, valued at approximately $19,735,981.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $203.25, for a total value of $1,524,375.00. Following the sale, the executive vice president now owns 97,102 shares in the company, valued at approximately $19,735,981.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $214.62, for a total value of $965,790.00. Following the completion of the sale, the director now owns 1,600 shares in the company, valued at approximately $343,392. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Enphase Energy Company Profile

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Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.