Gilder Gagnon Howe & Co. LLC Sells 29,896 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Gilder Gagnon Howe & Co. LLC lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,172 shares of the semiconductor company’s stock after selling 29,896 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Enphase Energy were worth $6,811,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its stake in shares of Enphase Energy by 72.7% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after purchasing an additional 8,000 shares in the last quarter. Norges Bank purchased a new stake in Enphase Energy in the fourth quarter worth about $46,339,000. Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $5,324,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Enphase Energy in the 4th quarter worth approximately $584,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENPH shares. Glj Research dropped their price target on Enphase Energy from $50.69 to $31.11 and set a “sell” rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 price target (down from $59.00) on shares of Enphase Energy in a research note on Wednesday. Susquehanna dropped their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Enphase Energy from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $70.54.

Enphase Energy Stock Performance

Shares of ENPH opened at $46.83 on Friday. Enphase Energy, Inc. has a one year low of $44.83 and a one year high of $141.63. The business has a fifty day moving average of $57.84 and a 200 day moving average of $67.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $6.14 billion, a P/E ratio of 63.28 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.