Sigma Planning Corp Purchases 2,011 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Posted by Defense World Staff on Apr 7th, 2023

Sigma Planning Corp grew its position in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 111.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,810 shares of the semiconductor company’s stock after purchasing an additional 2,011 shares during the period. Sigma Planning Corp’s holdings in Enphase Energy were worth $1,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Enphase Energy in the third quarter valued at about $28,000. Align Wealth Management LLC purchased a new stake in Enphase Energy during the fourth quarter worth about $28,000. KB Financial Partners LLC purchased a new position in shares of Enphase Energy in the first quarter worth about $28,000. Hanseatic Management Services Inc. bought a new position in shares of Enphase Energy in the third quarter valued at approximately $34,000. Finally, Godsey & Gibb Inc. bought a new position in shares of Enphase Energy in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Enphase Energy Price Performance

NASDAQ ENPH opened at $191.00 on Friday. Enphase Energy, Inc. has a 52 week low of $128.67 and a 52 week high of $339.92. The firm has a market capitalization of $26.07 billion, a P/E ratio of 68.95, a PEG ratio of 1.14 and a beta of 1.54. The company has a quick ratio of 3.31, a current ratio of 3.55 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $208.95 and a 200-day moving average price of $255.35.

Insider Activity

In other news, Director Richard Mora sold 4,500 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $214.62, for a total transaction of $965,790.00. Following the completion of the sale, the director now owns 1,600 shares of the company’s stock, valued at approximately $343,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard Mora sold 4,500 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $214.62, for a total value of $965,790.00. Following the completion of the sale, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $343,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $203.25, for a total transaction of $1,524,375.00. Following the completion of the sale, the executive vice president now directly owns 97,102 shares of the company’s stock, valued at $19,735,981.50. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ENPH. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Enphase Energy from $330.00 to $285.00 and set a “buy” rating for the company in a research report on Tuesday, January 17th. Northland Securities upgraded shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $365.00 target price for the company in a research report on Monday, December 19th. Barclays lifted their target price on shares of Enphase Energy from $251.00 to $257.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Daiwa Capital Markets started coverage on shares of Enphase Energy in a report on Friday, December 23rd. They issued an “outperform” rating and a $335.00 price objective for the company. Finally, Cowen boosted their price objective on shares of Enphase Energy from $335.00 to $341.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy currently has an average rating of “Moderate Buy” and an average target price of $300.59.

Enphase Energy Company Profile

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Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.

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

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