Price T Rowe Associates Inc. MD Has $99.24 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Price T Rowe Associates Inc. MD cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,638 shares of the semiconductor company’s stock after selling 4,546 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.26% of Enphase Energy worth $99,235,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Enphase Energy by 0.4% during the first quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock worth $2,820,957,000 after acquiring an additional 60,024 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Enphase Energy by 0.9% during the second quarter. Brown Advisory Inc. now owns 1,402,229 shares of the semiconductor company’s stock worth $273,772,000 after acquiring an additional 12,801 shares in the last quarter. Legal & General Group Plc lifted its holdings in Enphase Energy by 4.3% during the second quarter. Legal & General Group Plc now owns 955,847 shares of the semiconductor company’s stock worth $186,619,000 after acquiring an additional 39,751 shares in the last quarter. Pictet Asset Management SA lifted its holdings in Enphase Energy by 2.9% during the third quarter. Pictet Asset Management SA now owns 934,253 shares of the semiconductor company’s stock worth $259,227,000 after acquiring an additional 26,140 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Enphase Energy by 272.4% during the third quarter. Jennison Associates LLC now owns 890,322 shares of the semiconductor company’s stock worth $247,038,000 after acquiring an additional 651,254 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $210.22 on Monday. The business’s 50 day moving average price is $222.36 and its two-hundred day moving average price is $268.04. The company has a market cap of $28.69 billion, a PE ratio of 75.89, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The company has a quick ratio of 3.31, a current ratio of 3.55 and a debt-to-equity ratio of 1.45. Enphase Energy, Inc. has a twelve month low of $128.67 and a twelve month high of $339.92.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Enphase Energy from $326.00 to $379.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Scotiabank initiated coverage on Enphase Energy in a report on Thursday, March 2nd. They issued a “sector outperform” rating and a $300.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Enphase Energy from $310.00 to $307.00 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. Susquehanna cut their price target on Enphase Energy from $365.00 to $275.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $255.00 price target on shares of Enphase Energy in a report on Wednesday, February 8th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Moderate Buy” and a consensus price target of $307.08.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $327.65, for a total value of $11,902,541.55. Following the transaction, the chief executive officer now owns 1,131,459 shares of the company’s stock, valued at $370,722,541.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeff Mcneil sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $326.42, for a total value of $4,896,300.00. Following the transaction, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $4,896,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $327.65, for a total value of $11,902,541.55. Following the completion of the sale, the chief executive officer now owns 1,131,459 shares of the company’s stock, valued at $370,722,541.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,327 shares of company stock valued at $19,289,007. 4.80% of the stock is owned by insiders.

Enphase Energy Profile

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Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.