Avantax Advisory Services Inc. Acquires 476 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Avantax Advisory Services Inc. grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,707 shares of the semiconductor company’s stock after acquiring an additional 476 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Enphase Energy were worth $886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Panagora Asset Management Inc. grew its position in Enphase Energy by 34.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 7,512 shares of the semiconductor company’s stock worth $903,000 after purchasing an additional 1,942 shares during the last quarter. Allworth Financial LP grew its position in Enphase Energy by 173.5% during the third quarter. Allworth Financial LP now owns 1,988 shares of the semiconductor company’s stock worth $239,000 after buying an additional 1,261 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Enphase Energy by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 10,618 shares of the semiconductor company’s stock valued at $1,276,000 after acquiring an additional 262 shares during the period. New Mexico Educational Retirement Board raised its holdings in Enphase Energy by 7.6% in the 3rd quarter. New Mexico Educational Retirement Board now owns 7,100 shares of the semiconductor company’s stock valued at $853,000 after acquiring an additional 500 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its position in shares of Enphase Energy by 13.1% in the 3rd quarter. Banque Pictet & Cie SA now owns 3,073 shares of the semiconductor company’s stock worth $369,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Down 2.2 %

NASDAQ:ENPH opened at $114.32 on Monday. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $192.22. The stock has a 50-day moving average price of $113.94 and a two-hundred day moving average price of $112.64. The stock has a market cap of $15.55 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 4.09 and a beta of 1.50. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). The business had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, equities analysts expect that Enphase Energy, Inc. will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on 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 purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $3,219,700 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial cut their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. DZ Bank initiated coverage on Enphase Energy in a report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price objective for the company. Oppenheimer boosted their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, TD Cowen upped their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $133.45.

Enphase Energy 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.