Insider Buying: Enphase Energy, Inc. (NASDAQ:ENPH) CFO Buys 4,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) CFO Mandy Yang acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares in the company, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Enphase Energy Price Performance

Enphase Energy stock opened at $114.20 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. The company has a market capitalization of $15.54 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.76 and a beta of 1.50. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $192.22. The business has a 50 day simple moving average of $116.24 and a 200 day simple moving average of $111.28.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results 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. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. B. Riley raised their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $134.00 in a research note on Friday, April 26th. Finally, Piper Sandler restated a “neutral” rating and set a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.45.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy in the 4th quarter valued at $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy in the 1st quarter valued at $35,000. Parkside Financial Bank & Trust increased its stake in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 176 shares during the period. Finally, Covestor Ltd increased its stake in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 133 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.