Enphase Energy, Inc. (NASDAQ:ENPH) Shares Acquired by Vestcor Inc

Vestcor Inc grew its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 158.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,109 shares of the semiconductor company’s stock after purchasing an additional 4,357 shares during the quarter. Vestcor Inc’s holdings in Enphase Energy were worth $488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at $34,000. Quarry LP acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at $37,000. Venturi Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $55,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on ENPH shares. BMO Capital Markets dropped their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Barclays dropped their target price on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Stock Up 0.2 %

Shares of NASDAQ ENPH opened at $58.13 on Monday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The firm has a 50-day moving average price of $63.40 and a 200 day moving average price of $79.02. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 78.56 and a beta of 2.12.

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