Oddo BHF Asset Management Sas cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 63.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,606 shares of the semiconductor company’s stock after selling 23,466 shares during the period. Oddo BHF Asset Management Sas’ holdings in Enphase Energy were worth $436,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 350 shares in the last quarter. Stance Capital LLC bought a new position in shares of Enphase Energy during the third quarter valued at $32,000. Activest Wealth Management increased its holdings in shares of Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Enphase Energy during the third quarter valued at $39,000. 72.12% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Morgan Stanley set a $27.00 price target on Enphase Energy in a report on Friday, May 8th. Barclays reduced their price target on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their price target on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. The Goldman Sachs Group lifted their price objective on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group lifted their price objective on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.70.
Insider Buying and Selling at Enphase Energy
In other news, Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. This trade represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.
Enphase Energy Price Performance
NASDAQ ENPH opened at $50.26 on Wednesday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The stock has a 50-day moving average of $46.17 and a 200 day moving average of $41.19. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 49.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.28 million. During the same period last year, the company earned $0.68 EPS. Enphase Energy’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 0.84 EPS for the current year.
Enphase Energy Profile
Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.
The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.
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