Insider Selling: Enphase Energy (NASDAQ:ENPH) Director Sells 150,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman Rodgers sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares in the company, valued at $50,499,651.48. This represents a 7.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Enphase Energy Trading Up 4.7%

NASDAQ:ENPH traded up $1.37 during midday trading on Thursday, reaching $30.76. 8,091,135 shares of the stock traded hands, compared to its average volume of 7,013,625. The company has a fifty day moving average of $32.66 and a 200 day moving average of $36.55. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $78.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. The stock has a market capitalization of $4.03 billion, a P/E ratio of 21.21 and a beta of 1.43.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The business had revenue of $410.43 million for the quarter, compared to analyst estimates of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. On average, research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds have recently modified their holdings of the business. SVB Wealth LLC bought a new position in shares of Enphase Energy in the 1st quarter worth about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares during the period. Brooklyn Investment Group grew its holdings in Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 368 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Finally, Stance Capital LLC purchased a new position in shares of Enphase Energy during the third quarter valued at approximately $32,000. Institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of research analyst reports. Mizuho downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $50.00 to $37.00 in a report on Thursday, October 23rd. Zacks Research cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Morgan Stanley decreased their target price on Enphase Energy from $28.00 to $26.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Barclays lifted their price target on shares of Enphase Energy from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Finally, Susquehanna set a $33.00 price objective on shares of Enphase Energy in a report on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $39.90.

Enphase Energy Company 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.