Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 90.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 398 shares of the semiconductor company’s stock after selling 3,640 shares during the quarter. Hoey Investments Inc.’s holdings in Enphase Energy were worth $27,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Enphase Energy by 102.6% in the 3rd quarter. Cerity Partners LLC now owns 10,988 shares of the semiconductor company’s stock valued at $1,242,000 after acquiring an additional 5,565 shares during the period. FMR LLC raised its position in Enphase Energy by 5.7% in the third quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company’s stock valued at $117,168,000 after purchasing an additional 56,136 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Enphase Energy by 11.5% during the third quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 600 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Enphase Energy in the third quarter worth about $2,138,000. Finally, Aspex Management HK Ltd acquired a new stake in shares of Enphase Energy in the third quarter valued at about $48,442,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

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 completion of the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was 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 $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. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Price Performance

NASDAQ ENPH opened at $62.05 on Tuesday. The company has a 50-day moving average price of $62.21 and a two-hundred day moving average price of $75.12. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 83.85 and a beta of 2.12. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent research reports. Barclays reduced their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Truist Financial reaffirmed a “hold” rating and set a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Susquehanna cut their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Piper Sandler lowered their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $90.36.

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.