Desjardins Global Asset Management Inc. Raises Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Desjardins Global Asset Management Inc. grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 788 shares of the semiconductor company’s stock after purchasing an additional 189 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Enphase Energy were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. United Asset Strategies Inc. grew its position in shares of Enphase Energy by 46.8% during the fourth quarter. United Asset Strategies Inc. now owns 6,205 shares of the semiconductor company’s stock valued at $820,000 after purchasing an additional 1,977 shares in the last quarter. Granite Bay Wealth Management LLC grew its position in Enphase Energy by 9.2% in the fourth quarter. Granite Bay Wealth Management LLC now owns 2,752 shares of the semiconductor company’s stock worth $364,000 after acquiring an additional 232 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Enphase Energy in the fourth quarter worth about $1,097,000. Aquila Investment Management LLC purchased a new position in Enphase Energy in the fourth quarter worth about $1,321,000. Finally, RPG Investment Advisory LLC grew its position in Enphase Energy by 6.1% in the fourth quarter. RPG Investment Advisory LLC now owns 48,593 shares of the semiconductor company’s stock worth $6,421,000 after acquiring an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $106.48 on Friday. The business’s fifty day simple moving average is $119.85 and its 200-day simple moving average is $112.10. The company has a market cap of $14.48 billion, a PE ratio of 34.80, a PEG ratio of 3.10 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $228.36.

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

Analyst Ratings Changes

Several research analysts recently commented on ENPH shares. Barclays lifted their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target for the company. Susquehanna restated a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $145.00 in a research report on Tuesday, January 23rd. Finally, Morgan Stanley boosted their target price on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.88.

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.