Arizona State Retirement System Trims Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Arizona State Retirement System decreased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 37,476 shares of the semiconductor company’s stock after selling 1,315 shares during the period. Arizona State Retirement System’s holdings in Enphase Energy were worth $4,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new position in Enphase Energy during the fourth quarter worth approximately $29,000. KB Financial Partners LLC purchased a new position in Enphase Energy during the first quarter worth approximately $28,000. Coppell Advisory Solutions Corp. purchased a new position in Enphase Energy during the fourth quarter worth approximately $42,000. First Capital Advisors Group LLC. purchased a new position in Enphase Energy during the second quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC purchased a new position in Enphase Energy during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial raised shares of Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Wells Fargo & Company raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Piper Sandler cut their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price on the stock. Finally, StockNews.com downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $151.03.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Enphase Energy Trading Up 2.6 %

Enphase Energy stock opened at $115.24 on Tuesday. The firm’s 50-day moving average is $118.69 and its 200-day moving average is $112.31. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $231.42. The company has a market cap of $15.67 billion, a P/E ratio of 37.66, a PEG ratio of 3.11 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, equities analysts expect that Enphase Energy, Inc. will post 2.09 earnings per share for the current year.

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.