First Trust Advisors LP Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

First Trust Advisors LP reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 677,091 shares of the semiconductor company’s stock after selling 277,596 shares during the period. First Trust Advisors LP owned about 0.50% of Enphase Energy worth $89,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ENPH. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $149,425,000. Nordea Investment Management AB raised its position in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $41,068,000. Finally, Panagora Asset Management Inc. raised its position in shares of Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after acquiring an additional 255,175 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Trading Up 2.7 %

Shares of ENPH stock opened at $133.24 on Thursday. The stock has a 50-day simple moving average of $116.23 and a 200 day simple moving average of $116.10. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The stock has a market capitalization of $18.13 billion, a P/E ratio of 69.40, a P/E/G ratio of 4.99 and a beta of 1.77. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, sell-side analysts expect that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mandy Yang purchased 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $104.24 per share, with a total value of $416,960.00. Following the purchase, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 349,526 shares of company stock valued at $43,649,325. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ENPH shares. Truist Financial dropped their price target on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. TD Cowen increased their target price on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays raised Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $115.00 to $134.00 in a research report on Friday, April 26th. Royal Bank of Canada dropped their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, Canaccord Genuity Group increased their target price on Enphase Energy from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Three 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. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $134.10.

Get Our Latest Analysis on Enphase Energy

Enphase Energy Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPHFree Report).

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.