Sumitomo Mitsui Trust Holdings Inc. Sells 14,742 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,660 shares of the semiconductor company’s stock after selling 14,742 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Enphase Energy were worth $42,901,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Enphase Energy by 0.4% in the first quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock valued at $2,820,957,000 after purchasing an additional 60,024 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,897,279 shares of the semiconductor company’s stock valued at $607,929,000 after buying an additional 51,092 shares during the period. Northern Trust Corp boosted its holdings in shares of Enphase Energy by 7.1% in the third quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock valued at $163,479,000 after buying an additional 90,438 shares during the period. Finally, Norges Bank acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $325,230,000. Institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Enphase Energy in a report on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price target for the company. Piper Sandler reduced their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. DZ Bank began coverage on shares of Enphase Energy in a report on Wednesday. They set a “hold” rating and a $116.00 target price for the company. Roth Mkm restated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a report on Thursday. Finally, Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. 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 has a consensus rating of “Hold” and an average target price of $149.88.

Enphase Energy Price Performance

Shares of ENPH opened at $106.48 on Friday. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The firm has a market capitalization of $14.48 billion, a PE ratio of 34.80, a PEG ratio of 3.10 and a beta of 1.47. The company’s 50-day moving average is $119.85 and its 200-day moving average is $112.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 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 business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Equities analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is owned by company insiders.

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.