Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,238 shares of the semiconductor company’s stock after selling 2,895 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Enphase Energy were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank purchased a new position in Enphase Energy in the fourth quarter worth approximately $325,230,000. Nordea Investment Management AB grew its position in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after acquiring an additional 501,385 shares during the period. Clearbridge Investments LLC grew its position in Enphase Energy by 86.2% in the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after acquiring an additional 370,992 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Enphase Energy by 67.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after buying an additional 356,495 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $112.47 on Tuesday. The business’s fifty day moving average price is $120.24 and its two-hundred day moving average price is $112.26. The stock has a market cap of $15.29 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $231.42.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. On average, analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho lifted their target price on Enphase Energy from $131.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Barclays raised their price target on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Finally, Roth Mkm cut their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $151.03.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was 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 in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Enphase Energy Company Profile

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.