Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,660 shares of the semiconductor company’s stock after selling 14,742 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Enphase Energy worth $42,901,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ENPH. Resurgent Financial Advisors LLC bought a new position in Enphase Energy during the 4th quarter valued at $29,000. KB Financial Partners LLC bought a new position in Enphase Energy during the 1st quarter valued at $28,000. Coppell Advisory Solutions Corp. bought a new position in Enphase Energy during the 4th quarter valued at $42,000. First Capital Advisors Group LLC. bought a new position in Enphase Energy during the 2nd quarter valued at $28,000. Finally, Quarry LP boosted its stake in Enphase Energy by 416.7% during the 1st quarter. Quarry LP now owns 217 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 175 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. DZ Bank assumed coverage on Enphase Energy in a research note on Wednesday. They set a “hold” rating and a $116.00 price target for the company. Canaccord Genuity Group initiated coverage on Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target for the company. BMO Capital Markets raised their price objective on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Finally, Morgan Stanley raised their price objective on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $149.88.

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 stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a 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 stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average price 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 $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $106.48 on Friday. 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 1 year low of $73.49 and a 1 year high of $228.36. The business has a fifty day simple moving average of $119.85 and a 200 day simple moving average of $112.10. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 3.10 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 2.09 earnings per share for the current fiscal year.

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.