Insider Selling: Enphase Energy (NASDAQ:ENPH) Director Sells $73,520.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the completion of the sale, the director owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Richard Mora also recently made the following trade(s):

• On Monday, June 1st, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00.
• On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $46.39, for a total value of $32,473.00.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $37.54 on Monday. The business’s fifty day moving average price is $49.62 and its two-hundred day moving average price is $43.82. The stock has a market cap of $4.96 billion, a PE ratio of 37.54 and a beta of 1.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The company had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was down 19.6% on a year-over-year basis. On average, analysts forecast that Enphase Energy, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Woodline Partners LP increased its position in Enphase Energy by 37.9% during the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 3,077 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Enphase Energy during the first quarter worth approximately $121,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Enphase Energy in the 2nd quarter valued at $1,299,000. Guggenheim Capital LLC boosted its holdings in shares of Enphase Energy by 14.1% in the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after purchasing an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Enphase Energy by 11.9% during the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after buying an additional 25,450 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ENPH shares. Sanford C. Bernstein started coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price for the company. Oppenheimer reduced their target price on shares of Enphase Energy from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen cut their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $45.61.

About Enphase Energy

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.