Raymond James Financial Services Advisors Inc. Sells 10,907 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 43.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,472 shares of the semiconductor company’s stock after selling 10,907 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Enphase Energy were worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Machina Capital S.A.S. bought a new stake in Enphase Energy during the fourth quarter valued at approximately $291,000. Belpointe Asset Management LLC grew its position in Enphase Energy by 142.0% during the fourth quarter. Belpointe Asset Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $299,000 after buying an additional 663 shares during the period. Orion Portfolio Solutions LLC grew its position in Enphase Energy by 21.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 1,401 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 244 shares during the period. Premier Fund Managers Ltd grew its position in Enphase Energy by 554.3% during the fourth quarter. Premier Fund Managers Ltd now owns 55,618 shares of the semiconductor company’s stock valued at $4,483,000 after buying an additional 47,118 shares during the period. Finally, Decade Renewable Partners LP bought a new stake in Enphase Energy during the fourth quarter valued at approximately $10,439,000. 73.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. OTR Global lowered shares of Enphase Energy to a “positive” rating in a research report on Tuesday, January 24th. HSBC initiated coverage on shares of Enphase Energy in a research note on Thursday, April 13th. They issued a “buy” rating and a $271.00 price objective for the company. Piper Sandler reduced their price objective on shares of Enphase Energy from $255.00 to $230.00 in a research note on Wednesday, April 26th. Northland Securities reduced their price objective on shares of Enphase Energy from $365.00 to $300.00 in a research note on Wednesday, April 26th. Finally, KeyCorp reduced their price objective on shares of Enphase Energy from $363.00 to $311.00 in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Moderate Buy” and an average target price of $281.24.

Insider Transactions at Enphase Energy

In other news, CFO Mandy Yang bought 3,500 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was purchased at an average price of $156.86 per share, for a total transaction of $549,010.00. Following the acquisition, the chief financial officer now owns 99,043 shares of the company’s stock, valued at $15,535,884.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Mandy Yang bought 3,500 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was purchased at an average price of $156.86 per share, for a total transaction of $549,010.00. Following the acquisition, the chief financial officer now owns 99,043 shares of the company’s stock, valued at $15,535,884.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 7,500 shares of the firm’s 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 completion of the sale, the executive vice president now owns 97,102 shares of the company’s stock, valued at approximately $19,735,981.50. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $162.37 on Friday. The firm has a 50-day moving average price of $189.84 and a 200-day moving average price of $235.59. The firm has a market capitalization of $22.25 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.52. The company has a current ratio of 3.45, a quick ratio of 3.24 and a debt-to-equity ratio of 1.24. Enphase Energy, Inc. has a 12-month low of $152.15 and a 12-month high of $339.92.

About Enphase Energy

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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.