New York State Teachers Retirement System Sells 11,700 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

New York State Teachers Retirement System trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,346 shares of the semiconductor company’s stock after selling 11,700 shares during the period. New York State Teachers Retirement System’s holdings in Enphase Energy were worth $12,000,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ENPH. International Assets Investment Management LLC bought a new position in Enphase Energy in the 4th quarter valued at $53,950,000. Cerity Partners LLC lifted its holdings in shares of Enphase Energy by 25.1% during the 4th quarter. Cerity Partners LLC now owns 2,265 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 455 shares during the last quarter. CWM LLC lifted its holdings in shares of Enphase Energy by 5.9% during the 4th quarter. CWM LLC now owns 4,278 shares of the semiconductor company’s stock worth $565,000 after acquiring an additional 238 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Enphase Energy by 129.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 7,709 shares of the semiconductor company’s stock worth $1,019,000 after acquiring an additional 4,349 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Enphase Energy during the 4th quarter worth $206,000. 72.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Enphase Energy from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler lifted their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Craig Hallum lifted their price objective on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Susquehanna lifted their target price on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Finally, Canaccord Genuity Group decreased their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $128.76.

Enphase Energy Stock Up 6.5 %

Shares of NASDAQ:ENPH traded up $7.51 on Friday, hitting $123.00. 2,729,010 shares of the company traded hands, compared to its average volume of 3,996,939. The stock has a 50 day simple moving average of $109.59 and a 200-day simple moving average of $115.90. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market cap of $16.74 billion, a PE ratio of 64.06, a PEG ratio of 5.59 and a beta of 1.71. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same period last year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 57.3% on a year-over-year basis. As a group, research analysts expect that Enphase Energy, Inc. will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Enphase Energy Company 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.