Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,019 shares of the semiconductor company’s stock after selling 403 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Enphase Energy were worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENPH. CX Institutional acquired a new position in Enphase Energy during the first quarter worth about $29,000. Venturi Wealth Management LLC boosted its position in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the fourth quarter worth about $47,000. GeoWealth Management LLC boosted its position in Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in Enphase Energy during the fourth quarter worth about $69,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Enphase Energy Price Performance

Shares of ENPH opened at $45.60 on Friday. Enphase Energy, Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $131.74. The firm’s 50 day moving average price is $46.51 and its 200 day moving average price is $58.90. The company has a market cap of $5.98 billion, a P/E ratio of 61.62 and a beta of 1.70. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENPH shares. Truist Financial lowered their price target on shares of Enphase Energy from $65.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. DZ Bank lowered shares of Enphase Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 23rd. BMO Capital Markets reiterated an “underperform” rating and issued a $39.00 target price (down from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 target price (down from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, Barclays lowered shares of Enphase Energy from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.31.

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.