Nisa Investment Advisors LLC Cuts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Nisa Investment Advisors LLC trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 59.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,263 shares of the semiconductor company’s stock after selling 4,786 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Enphase Energy were worth $431,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Enphase Energy in the 4th quarter worth $53,950,000. TriaGen Wealth Management LLC boosted its stake in shares of Enphase Energy by 26.4% in the 4th quarter. TriaGen Wealth Management LLC now owns 6,052 shares of the semiconductor company’s stock worth $800,000 after buying an additional 1,264 shares during the last quarter. BlueDrive Global Investors LLP purchased a new position in shares of Enphase Energy in the 4th quarter worth $2,966,000. Caprock Group LLC purchased a new position in shares of Enphase Energy in the 4th quarter worth $216,000. Finally, Blue Trust Inc. boosted its stake in shares of Enphase Energy by 194.6% in the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after buying an additional 218 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 1.4 %

Shares of Enphase Energy stock opened at $112.05 on Thursday. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 3.12 and a beta of 1.47. The business has a 50-day moving average price of $120.33 and a 200-day moving average price of $112.19. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $231.42.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ENPH. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Wells Fargo & Company raised Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $98.00 to $141.00 in a report on Monday, January 8th. Canaccord Genuity Group started coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price on the stock. Barclays raised their target price on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, Mizuho raised their target price on Enphase Energy from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $149.94.

About Enphase Energy

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.