Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Electron Capital Partners LLC

Electron Capital Partners LLC lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 79.1% during the fourth quarter, Holdings Channel reports. The fund owned 102,600 shares of the semiconductor company’s stock after selling 387,621 shares during the quarter. Enphase Energy comprises 0.4% of Electron Capital Partners LLC’s portfolio, making the stock its 27th biggest holding. Electron Capital Partners LLC’s holdings in Enphase Energy were worth $7,047,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after buying an additional 44,782 shares during the period. Baillie Gifford & Co. lifted its position in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares during the period. Invesco Ltd. lifted its position in Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after buying an additional 1,378,978 shares during the period. Geode Capital Management LLC lifted its position in Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock worth $234,994,000 after buying an additional 47,593 shares during the period. Finally, Nordea Investment Management AB lifted its position in 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 worth $155,360,000 after buying an additional 1,258,778 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $46.47 on Tuesday. Enphase Energy, Inc. has a twelve month low of $44.83 and a twelve month high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $57.44 and a 200-day moving average of $66.42. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 62.80 and a beta of 1.94.

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

Insider Transactions at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the company’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 completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ENPH shares. Mizuho reduced their target price on Enphase Energy from $81.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Susquehanna reduced their target price on Enphase Energy from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. BMO Capital Markets cut their price objective on Enphase Energy from $59.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday, April 23rd. Oppenheimer set a $84.00 price objective on Enphase Energy and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. Finally, Piper Sandler cut their price objective on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.54.

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.