Xponance Inc. Sells 722 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Xponance Inc. reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,900 shares of the semiconductor company’s stock after selling 722 shares during the period. Xponance Inc.’s holdings in Enphase Energy were worth $4,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENPH. Legato Capital Management LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $1,542,000. Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $566,000. Glenmede Trust Co. NA grew its stake in shares of Enphase Energy by 92.7% in the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after buying an additional 1,521 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Enphase Energy by 8.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after buying an additional 10,729 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Down 2.5 %

Shares of ENPH opened at $106.48 on Friday. The firm has a 50 day simple moving average of $119.85 and a two-hundred day simple moving average of $112.08. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $228.36. The company has a market cap of $14.48 billion, a P/E ratio of 34.80, a P/E/G ratio of 3.02 and a beta of 1.47.

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, 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. Research analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays increased their price target on shares of Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Piper Sandler cut their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. Morgan Stanley boosted their price target on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $145.00 in a research report on Tuesday, January 23rd. Finally, Citigroup lowered Enphase Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $149.88.

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.