Daiwa Securities Group Inc. Sells 37,168 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Daiwa Securities Group Inc. cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 59.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,494 shares of the semiconductor company’s stock after selling 37,168 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Enphase Energy were worth $3,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in 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 worth $539,102,000 after buying an additional 4,078,723 shares in the last quarter. Norges Bank bought a new position in shares of Enphase Energy in the 4th quarter worth approximately $325,230,000. Nordea Investment Management AB lifted its stake in shares of Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after purchasing an additional 501,385 shares during the period. Clearbridge Investments LLC grew its stake in Enphase Energy by 86.2% in the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after purchasing an additional 370,992 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Enphase Energy by 67.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after purchasing an additional 356,495 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 2.5 %

Enphase Energy stock opened at $106.48 on Friday. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $228.36. The stock has a fifty day moving average of $119.85 and a 200 day moving average of $112.08. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The stock has a market cap of $14.48 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 3.02 and a beta of 1.47.

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, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 2.09 EPS for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased 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 directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ENPH shares. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Thursday. Mizuho cut their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Friday. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $126.00 to $121.00 in a report on Friday, April 5th. Morgan Stanley upped their price target on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Susquehanna reiterated a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. Two equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $149.88.

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.