Mercer Global Advisors Inc. ADV Increases Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Mercer Global Advisors Inc. ADV raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 154.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,676 shares of the semiconductor company’s stock after purchasing an additional 7,696 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Enphase Energy were worth $871,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares during the period. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Norges Bank bought a new position in shares of Enphase Energy in the fourth quarter valued at approximately $46,339,000. Northern Trust Corp grew its stake in Enphase Energy by 40.9% during the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company’s stock valued at $114,614,000 after acquiring an additional 484,497 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after acquiring an additional 365,356 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Glj Research decreased their price target on shares of Enphase Energy from $50.69 to $31.11 and set a “sell” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lowered their price target on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group lowered their target price on shares of Enphase Energy from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Truist Financial decreased their price target on shares of Enphase Energy from $65.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group cut their target price 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 assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.54.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $50.80 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company has a 50 day simple moving average of $54.63 and a two-hundred day simple moving average of $63.76. Enphase Energy, Inc. has a fifty-two week low of $43.09 and a fifty-two week high of $141.63. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 68.65 and a beta of 1.80.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

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.