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NewEdge Advisors LLC lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 38.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,513 shares of the semiconductor company’s stock after selling 3,410 shares during the quarter. NewEdge Advisors LLC’s holdings in Enphase Energy were worth $379,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Enphase Energy during the fourth quarter worth about $47,000. Sava Infond d.o.o. bought a new position in Enphase Energy during the fourth quarter worth about $69,000. Avior Wealth Management LLC boosted its position in Enphase Energy by 269.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 762 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new position in Enphase Energy during the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This represents a 0.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ENPH. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Craig Hallum cut their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Truist Financial cut their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets cut their price objective on shares of Enphase Energy from $59.00 to $46.00 and set a “market perform” rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group cut their price objective on shares of Enphase Energy from $90.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.54.
Read Our Latest Stock Report on ENPH
Enphase Energy Stock Performance
Enphase Energy stock opened at $47.71 on Wednesday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average of $57.07 and a 200-day moving average of $66.29. The firm has a market cap of $6.26 billion, a P/E ratio of 64.47 and a beta of 1.94. Enphase Energy, Inc. has a 1-year low of $44.83 and a 1-year high of $141.63.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Sell-side analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.
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.
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