Jennison Associates LLC Sells 5,737 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Jennison Associates LLC cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,480 shares of the semiconductor company’s stock after selling 5,737 shares during the quarter. Jennison Associates LLC’s holdings in Enphase Energy were worth $4,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust lifted its stake in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares during the period. Blue Trust Inc. boosted its holdings in Enphase Energy by 194.6% in the fourth quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 218 shares in the last quarter. Covestor Ltd increased its position in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the period. Finally, Twin Lakes Capital Management LLC bought a new position in Enphase Energy in the 3rd quarter worth $48,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

In related news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold 54,285 shares of company stock valued at $6,148,228 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Enphase Energy Price Performance

ENPH opened at $111.93 on Friday. The company’s 50-day simple moving average is $118.22 and its two-hundred day simple moving average is $111.90. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The stock has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. As a group, analysts predict that Enphase Energy, Inc. will post 1.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENPH. Craig Hallum reduced their price target on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $134.00 in a research note on Friday. Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Finally, Citigroup lowered Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $137.41.

Enphase Energy 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.