NewEdge Wealth LLC Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

NewEdge Wealth LLC lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,587 shares of the semiconductor company’s stock after selling 308 shares during the quarter. NewEdge Wealth LLC’s holdings in Enphase Energy were worth $342,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Legato Capital Management LLC purchased a new position in Enphase Energy during the 4th quarter worth $1,542,000. Assenagon Asset Management S.A. raised its position in Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Enphase Energy during the 4th quarter worth $566,000. Glenmede Trust Co. NA raised its position in Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after buying an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after buying an additional 10,729 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ENPH. Susquehanna restated a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a research report on Friday, April 5th. StockNews.com downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Citigroup downgraded shares of 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 report on Friday, April 5th. Wells Fargo & Company upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $98.00 to $141.00 in a report on Monday, January 8th. Finally, Oppenheimer upgraded shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price target for the company in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $149.94.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $112.05 on Thursday. The company has a market cap of $15.24 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 3.12 and a beta of 1.47. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $231.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The company has a 50-day simple moving average of $120.33 and a 200-day simple moving average of $112.19.

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

Insider Activity at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is owned by company 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.