Global Retirement Partners LLC Cuts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Posted by Defense World Staff on Aug 12th, 2023

Global Retirement Partners LLC lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 822 shares of the semiconductor company’s stock after selling 81 shares during the quarter. Global Retirement Partners LLC’s holdings in Enphase Energy were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ENPH. Panagora Asset Management Inc. lifted its stake in Enphase Energy by 42.5% in the 1st quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock worth $813,000 after purchasing an additional 1,201 shares in the last quarter. Raymond James Trust N.A. bought a new position in Enphase Energy during the first quarter valued at approximately $249,000. Cibc World Market Inc. grew its holdings in Enphase Energy by 219.1% during the 1st quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after buying an additional 3,653 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Enphase Energy by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after buying an additional 6,401 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Enphase Energy by 8.7% during the 1st quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock worth $457,000 after acquiring an additional 182 shares in the last quarter. 71.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of recent research reports. Northland Securities cut their target price on shares of Enphase Energy from $300.00 to $235.00 in a report on Wednesday, June 28th. KeyCorp boosted their target price on shares of Enphase Energy from $260.00 to $267.00 in a report on Wednesday, July 19th. Evercore ISI lowered their price target on shares of Enphase Energy from $325.00 to $275.00 in a report on Wednesday, April 26th. Oppenheimer reduced their price objective on Enphase Energy from $328.00 to $302.00 in a research note on Wednesday, April 26th. Finally, Bank of America decreased their price objective on Enphase Energy from $169.00 to $168.00 in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has an average rating of “Moderate Buy” and an average price target of $245.21.

Check Out Our Latest Stock Report on Enphase Energy

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 1,791 shares of the stock in a transaction dated 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 of the company’s stock, valued at $14,470,964.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP David A. Ranhoff sold 1,791 shares of the stock in a transaction on Tuesday, May 30th. The stock was 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 owns 82,644 shares in the company, valued at approximately $14,470,964.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $165.92, for a total value of $248,880.00. Following the transaction, the director now owns 3,126 shares in the company, valued at $518,665.92. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $135.20 on Friday. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 1.57 and a beta of 1.45. Enphase Energy, Inc. has a 52-week low of $132.48 and a 52-week high of $339.92. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $166.92 and its 200 day moving average is $186.14.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The business had revenue of $711.12 million for the quarter, compared to the consensus estimate of $726.94 million. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 3.8 EPS for the current fiscal year.

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 services.