Ellevest Inc. trimmed its stake in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 32.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174 shares of the semiconductor company’s stock after selling 82 shares during the period. Ellevest Inc.’s holdings in Enphase Energy were worth $37,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kentucky Retirement Systems increased its stake in shares of Enphase Energy by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 10,650 shares of the semiconductor company’s stock worth $2,822,000 after purchasing an additional 47 shares in the last quarter. Dakota Wealth Management increased its stake in shares of Enphase Energy by 3.4% in the 4th quarter. Dakota Wealth Management now owns 1,445 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 47 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Enphase Energy by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock worth $1,603,000 after purchasing an additional 48 shares in the last quarter. Alterity Financial Group LLC increased its stake in shares of Enphase Energy by 4.6% in the 4th quarter. Alterity Financial Group LLC now owns 1,115 shares of the semiconductor company’s stock worth $295,000 after purchasing an additional 49 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its stake in shares of Enphase Energy by 29.7% in the 1st quarter. Ronald Blue Trust Inc. now owns 214 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 49 shares in the last quarter. 71.94% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Enphase Energy
In other Enphase Energy news, Director Richard Mora sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $165.92, for a total value of $248,880.00. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $518,665.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP David A. Ranhoff sold 1,791 shares of Enphase Energy stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $175.10, for a total transaction of $313,604.10. Following the completion of the sale, the executive vice president now directly owns 82,644 shares in the company, valued at $14,470,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction on Friday, May 26th. The stock was sold at an average price of $165.92, for a total transaction of $248,880.00. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at $518,665.92. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.
Enphase Energy Stock Performance
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.21. The company had revenue of $711.12 million for the quarter, compared to analyst estimates of $726.94 million. Enphase Energy had a net margin of 20.48% and a return on equity of 71.20%. Research analysts forecast that Enphase Energy, Inc. will post 3.8 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on ENPH shares. Piper Sandler dropped their target price on shares of Enphase Energy from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, July 28th. Citigroup dropped their target price on shares of Enphase Energy from $240.00 to $209.00 and set a “buy” rating for the company in a report on Friday, July 28th. KeyCorp upped their target price on shares of Enphase Energy from $260.00 to $267.00 in a report on Wednesday, July 19th. B. Riley raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $247.00 to $214.00 in a report on Friday, June 30th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $200.00 to $165.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.21.
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 services.
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