Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Lowered by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lessened its position in Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,915 shares of the semiconductor company’s stock after selling 877 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Enphase Energy were worth $588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaCentric Advisors LLC acquired a new stake in shares of Enphase Energy during the fourth quarter worth $27,000. American National Bank grew its holdings in shares of Enphase Energy by 80.5% during the fourth quarter. American National Bank now owns 148 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Enphase Energy during the fourth quarter valued at $27,000. Lindbrook Capital LLC grew its holdings in shares of Enphase Energy by 58.0% during the first quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 58 shares in the last quarter. Finally, Horan Securities Inc. purchased a new position in shares of Enphase Energy during the fourth quarter valued at $29,000. Institutional investors own 68.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin John Kortlang sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $197.89, for a total transaction of $4,947,250.00. Following the completion of the transaction, the director now owns 249,289 shares of the company’s stock, valued at approximately $49,331,800.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, Director Joseph Ian Malchow sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $188.00, for a total value of $2,350,000.00. Following the completion of the transaction, the director now owns 67,590 shares of the company’s stock, valued at approximately $12,706,920. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Benjamin John Kortlang sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $197.89, for a total value of $4,947,250.00. Following the completion of the transaction, the director now directly owns 249,289 shares of the company’s stock, valued at $49,331,800.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,850 shares of company stock valued at $30,289,084. Insiders own 4.80% of the company’s stock.

Enphase Energy Price Performance

NASDAQ ENPH opened at $254.77 on Thursday. Enphase Energy, Inc. has a twelve month low of $113.40 and a twelve month high of $282.46. The company has a debt-to-equity ratio of 3.62, a quick ratio of 3.22 and a current ratio of 3.44. The stock has a market capitalization of $34.40 billion, a PE ratio of 217.75, a P/E/G ratio of 2.25 and a beta of 1.37. The stock has a 50-day simple moving average of $195.26 and a 200 day simple moving average of $174.35.

Enphase Energy (NASDAQ:ENPHGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Enphase Energy had a return on equity of 45.30% and a net margin of 10.88%. The business had revenue of $441.29 million during the quarter, compared to analysts’ expectations of $434.21 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Research analysts anticipate that Enphase Energy, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research analyst reports. Stephens initiated coverage on Enphase Energy in a report on Wednesday, April 13th. They set an “overweight” rating and a $280.00 price target on the stock. Piper Sandler lifted their price target on Enphase Energy from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday. TheStreet upgraded Enphase Energy from a “c+” rating to a “b” rating in a research note on Thursday, April 7th. BMO Capital Markets boosted their target price on Enphase Energy from $241.00 to $250.00 in a research note on Wednesday. Finally, Susquehanna boosted their target price on Enphase Energy from $250.00 to $260.00 in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.57.

About Enphase Energy

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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 services.

See Also

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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