Insider Selling: Enphase Energy, Inc. (NASDAQ:ENPH) Director Sells 100,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Enphase Energy Stock Up 5.0 %

ENPH opened at $61.63 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. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63. The firm’s fifty day moving average is $64.66 and its 200 day moving average is $82.11. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENPH shares. Glj Research reissued a “sell” rating and set a $50.69 price target on shares of Enphase Energy in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. BMO Capital Markets reduced their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Redburn Atlantic started coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $90.42.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENPH. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy during the 3rd quarter valued at $34,000. Quarry LP purchased a new position in shares of Enphase Energy during the 3rd quarter valued at $37,000. Venturi Wealth Management LLC increased its holdings in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Enphase Energy in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 72.12% 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.