Truist Financial Corp lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 202.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,163 shares of the semiconductor company’s stock after acquiring an additional 8,145 shares during the quarter. Truist Financial Corp’s holdings in Enphase Energy were worth $2,558,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new stake in Enphase Energy in the fourth quarter valued at about $438,000. Treasurer of the State of North Carolina lifted its position in Enphase Energy by 7.4% in the first quarter. Treasurer of the State of North Carolina now owns 64,267 shares of the semiconductor company’s stock valued at $13,514,000 after purchasing an additional 4,420 shares during the period. Venturi Wealth Management LLC acquired a new stake in Enphase Energy in the first quarter valued at about $37,000. Viking Fund Management LLC lifted its position in Enphase Energy by 100.0% in the first quarter. Viking Fund Management LLC now owns 8,000 shares of the semiconductor company’s stock valued at $1,682,000 after purchasing an additional 4,000 shares during the period. Finally, Arosa Capital Management LP lifted its position in Enphase Energy by 30.0% in the fourth quarter. Arosa Capital Management LP now owns 19,500 shares of the semiconductor company’s stock valued at $5,167,000 after purchasing an additional 4,500 shares during the period. Institutional investors and hedge funds own 71.94% of the company’s stock.
Enphase Energy Stock Down 2.9 %
Shares of ENPH opened at $134.56 on Wednesday. The firm has a market cap of $18.35 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company’s fifty day moving average is $165.08 and its two-hundred day moving average is $184.72. Enphase Energy, Inc. has a fifty-two week low of $131.67 and a fifty-two 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.
Insider Buying and Selling at Enphase Energy
In other Enphase Energy news, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction 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 transaction, the director now owns 3,126 shares in the company, valued at approximately $518,665.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Richard Mora sold 1,500 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $165.92, for a total transaction of $248,880.00. Following the completion of the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $518,665.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 1,791 shares of the company’s 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 sale, the executive vice president now directly owns 82,644 shares of the company’s stock, valued at $14,470,964.40. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of Enphase Energy from $221.00 to $155.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. Truist Financial dropped their target price on shares of Enphase Energy from $240.00 to $210.00 and set a “buy” rating for the company in a report on Monday, July 31st. Susquehanna dropped their target price on shares of Enphase Energy from $225.00 to $200.00 and set a “positive” rating for the company in a report on Friday, July 28th. Credit Suisse Group dropped their target price on shares of Enphase Energy from $295.00 to $260.00 in a report on Monday, May 1st. Finally, Bank of America dropped their target price on shares of Enphase Energy from $169.00 to $168.00 in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.21.
Check Out Our Latest Stock Analysis on ENPH
Enphase Energy 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 services.
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