Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Addison Advisors LLC

Addison Advisors LLC cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 77.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 327 shares of the semiconductor company’s stock after selling 1,094 shares during the period. Addison Advisors LLC’s holdings in Enphase Energy were worth $33,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB acquired a new position in shares of Enphase Energy in the 1st quarter valued at $424,130,000. Northern Trust Corp increased its position in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after acquiring an additional 3,940 shares during the period. Finally, Norges Bank acquired a new position in shares of Enphase Energy in the 4th quarter valued at $149,425,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Down 3.1 %

ENPH opened at $108.65 on Friday. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. 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 50-day moving average price of $111.33 and a 200 day moving average price of $115.47. The company has a market cap of $14.78 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 6.22 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Sell-side analysts expect that Enphase Energy, Inc. will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ENPH shares. Glj Research started coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a research report on Wednesday. Craig Hallum upped their target price on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada cut their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler upped their price target on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $128.89.

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.