NEOS Investment Management LLC Buys 1,240 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

NEOS Investment Management LLC grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 26.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,888 shares of the semiconductor company’s stock after purchasing an additional 1,240 shares during the quarter. NEOS Investment Management LLC’s holdings in Enphase Energy were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP bought a new position in Enphase Energy in the third quarter worth approximately $37,000. Venturi Wealth Management LLC grew its position in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares in the last quarter. Sava Infond d.o.o. purchased a new position in shares of Enphase Energy during the fourth quarter valued at $69,000. Avior Wealth Management LLC raised its holdings in shares of Enphase Energy by 269.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 762 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Enphase Energy in the fourth quarter worth about $96,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research reports. Craig Hallum cut their target price on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Oppenheimer upped their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. TD Cowen cut their price target on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $90.36.

Insider Buying and Selling

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Stock Up 0.6 %

NASDAQ:ENPH opened at $62.05 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company’s fifty day moving average price is $62.21 and its 200-day moving average price is $75.12. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The firm has a market capitalization of $8.22 billion, a P/E ratio of 83.85 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.