Sumitomo Mitsui DS Asset Management Company Ltd Sells 27,656 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 43.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,410 shares of the semiconductor company’s stock after selling 27,656 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Enphase Energy were worth $4,811,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ENPH. abrdn plc increased its stake in shares of Enphase Energy by 178.7% in the fourth quarter. abrdn plc now owns 268,812 shares of the semiconductor company’s stock worth $35,521,000 after purchasing an additional 172,359 shares during the period. Federated Hermes Inc. increased its position in Enphase Energy by 1,093.2% in the 4th quarter. Federated Hermes Inc. now owns 57,845 shares of the semiconductor company’s stock worth $7,644,000 after buying an additional 52,997 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Enphase Energy by 251.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,221 shares of the semiconductor company’s stock worth $1,225,000 after buying an additional 6,596 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Enphase Energy during the fourth quarter worth approximately $415,000. Finally, Slow Capital Inc. bought a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $3,263,000. Institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 in the last 90 days. 3.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ENPH shares. BMO Capital Markets upped their target price on shares of Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Barclays increased their target price on shares of Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Canaccord Genuity Group initiated coverage on Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target on the stock. Piper Sandler reduced their price objective on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research report on Friday, January 12th. Finally, B. Riley boosted their price objective on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average price target of $147.84.

Enphase Energy Stock Up 3.8 %

NASDAQ ENPH opened at $110.51 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $228.36. The stock has a market capitalization of $15.03 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 3.07 and a beta of 1.47. The stock has a fifty day moving average of $119.48 and a 200-day moving average of $112.01.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. On average, equities research analysts forecast that Enphase Energy, Inc. will post 2.01 EPS for the current 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.