State of Alaska Department of Revenue Increases Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

State of Alaska Department of Revenue lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,315 shares of the semiconductor company’s stock after buying an additional 1,158 shares during the quarter. State of Alaska Department of Revenue’s holdings in Enphase Energy were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elequin Capital LP purchased a new position in shares of Enphase Energy during the first quarter valued at about $26,000. KB Financial Partners LLC purchased a new position in shares of Enphase Energy during the first quarter valued at about $28,000. AlphaCentric Advisors LLC purchased a new position in shares of Enphase Energy during the fourth quarter valued at about $27,000. Lindbrook Capital LLC increased its position 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 during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of Enphase Energy by 780.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 176 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $200.00, for a total transaction of $7,730,000.00. Following the transaction, the chief executive officer now owns 1,059,051 shares in the company, valued at $211,810,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $200.00, for a total transaction of $7,730,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,051 shares of the company’s stock, valued at $211,810,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,369 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $293.03, for a total transaction of $1,573,278.07. Following the sale, the executive vice president now directly owns 92,902 shares of the company’s stock, valued at $27,223,073.06. The disclosure for this sale can be found here. Insiders have sold a total of 203,271 shares of company stock worth $56,273,642 over the last quarter. Company insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Enphase Energy from $290.00 to $328.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Truist Financial upped their price objective on shares of Enphase Energy to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Barclays started coverage on shares of Enphase Energy in a report on Friday, August 5th. They issued an “equal weight” rating and a $292.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Enphase Energy from $261.00 to $321.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, Piper Sandler upped their price objective on shares of Enphase Energy from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.17.

Enphase Energy Stock Down 3.6 %

Shares of Enphase Energy stock opened at $304.71 on Wednesday. The company has a market cap of $41.28 billion, a price-to-earnings ratio of 213.09, a price-to-earnings-growth ratio of 2.33 and a beta of 1.51. The company’s 50 day moving average is $277.29 and its 200 day moving average is $216.09. Enphase Energy, Inc. has a twelve month low of $113.40 and a twelve month high of $324.84. The company has a quick ratio of 3.35, a current ratio of 3.62 and a debt-to-equity ratio of 2.66.

Enphase Energy (NASDAQ:ENPHGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The company had revenue of $530.20 million for the quarter, compared to the consensus estimate of $506.57 million. Enphase Energy had a net margin of 11.71% and a return on equity of 56.60%. Research analysts anticipate that Enphase Energy, Inc. will post 2.9 EPS for the current year.

About Enphase Energy

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPHGet Rating).

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

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.