Enphase Energy, Inc. $ENPH Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 41.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 509,970 shares of the semiconductor company’s stock after selling 367,013 shares during the period. Public Sector Pension Investment Board owned 0.39% of Enphase Energy worth $18,048,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its holdings in Enphase Energy by 29.4% in the 2nd quarter. ProShare Advisors LLC now owns 55,319 shares of the semiconductor company’s stock valued at $2,193,000 after buying an additional 12,577 shares during the period. Principal Financial Group Inc. increased its position in shares of Enphase Energy by 334.1% during the third quarter. Principal Financial Group Inc. now owns 626,065 shares of the semiconductor company’s stock valued at $22,156,000 after acquiring an additional 481,846 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Enphase Energy by 74.8% in the 2nd quarter. Quantbot Technologies LP now owns 91,084 shares of the semiconductor company’s stock valued at $3,611,000 after acquiring an additional 38,982 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Enphase Energy by 384.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 71,589 shares of the semiconductor company’s stock worth $2,533,000 after acquiring an additional 56,818 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Enphase Energy by 1,246.8% during the 3rd quarter. Nordea Investment Management AB now owns 158,948 shares of the semiconductor company’s stock worth $5,652,000 after purchasing an additional 147,146 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $55.00 target price (up previously from $45.00) on shares of Enphase Energy in a report on Wednesday, February 4th. BMO Capital Markets raised Enphase Energy from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $31.00 to $41.00 in a research note on Wednesday, February 4th. Zacks Research lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, February 4th. Finally, Evercore set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.70.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. This trade represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 1,100 shares of Enphase Energy stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total value of $57,255.00. Following the sale, the director directly owned 9,370 shares of the company’s stock, valued at $487,708.50. This trade represents a 10.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 157,100 shares of company stock valued at $4,624,815. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Price Performance

ENPH stock opened at $43.49 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The firm has a market capitalization of $5.69 billion, a P/E ratio of 33.71 and a beta of 1.37. The business’s 50-day moving average is $36.84 and its two-hundred day moving average is $35.07. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $70.78.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.19. The firm had revenue of $343.32 million for the quarter, compared to analyst estimates of $340.45 million. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.