Sandy Spring Bank Sells 3,088 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sandy Spring Bank trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 56.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,410 shares of the semiconductor company’s stock after selling 3,088 shares during the quarter. Sandy Spring Bank’s holdings in Enphase Energy were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new stake in Enphase Energy during the fourth quarter worth about $1,542,000. Assenagon Asset Management S.A. lifted its position in shares of Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Enphase Energy during the fourth quarter worth approximately $566,000. Glenmede Trust Co. NA lifted its position in shares of Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Enphase Energy by 8.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENPH has been the topic of a number of research reports. Royal Bank of Canada initiated coverage on shares of Enphase Energy in a research report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 target price on the stock. Roth Mkm cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Barclays increased their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Finally, Canaccord Genuity Group began coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $151.03.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $117.02 on Friday. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $231.42. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $119.94 and a two-hundred day simple moving average of $112.41. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 3.37 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

About Enphase Energy

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.