DnB Asset Management AS Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

DnB Asset Management AS increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 512,031 shares of the semiconductor company’s stock after purchasing an additional 6,180 shares during the quarter. DnB Asset Management AS owned 0.38% of Enphase Energy worth $35,166,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ENPH. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the last quarter. Norges Bank acquired a new stake in Enphase Energy during the 4th quarter worth $46,339,000. Aspex Management HK Ltd purchased a new stake in Enphase Energy during the 3rd quarter valued at about $48,442,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after purchasing an additional 365,356 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm’s 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 transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % 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.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $60.71 on Friday. The firm’s fifty day simple moving average is $62.28 and its 200-day simple moving average is $76.16. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a market cap of $8.04 billion, a PE ratio of 82.04 and a beta of 2.12. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its 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 net margin of 7.72% and a return on equity of 15.62%. Analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ENPH. TD Cowen lowered their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday. Craig Hallum dropped their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a report on Friday, January 31st. Finally, Glj Research restated a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.36.

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.