Rafferty Asset Management LLC Lowers Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Rafferty Asset Management LLC reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 54.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,749 shares of the semiconductor company’s stock after selling 58,092 shares during the period. Rafferty Asset Management LLC’s holdings in Enphase Energy were worth $6,310,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Kestra Private Wealth Services LLC bought a new position in Enphase Energy during the third quarter valued at approximately $319,000. Avantax Advisory Services Inc. grew its holdings in shares of Enphase Energy by 19.4% in the third quarter. Avantax Advisory Services Inc. now owns 6,231 shares of the semiconductor company’s stock valued at $749,000 after purchasing an additional 1,014 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Enphase Energy in the third quarter worth $1,304,000. NewEdge Wealth LLC purchased a new stake in Enphase Energy during the third quarter valued at $348,000. Finally, Atria Wealth Solutions Inc. lifted its position in Enphase Energy by 25.5% during the third quarter. Atria Wealth Solutions Inc. now owns 9,345 shares of the semiconductor company’s stock valued at $1,123,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the sale, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders sold a total of 349,526 shares of company stock worth $43,649,325 in the last 90 days. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Trading Down 0.7 %

Shares of NASDAQ:ENPH opened at $132.30 on Friday. The company has a market capitalization of $18.00 billion, a PE ratio of 68.91, a P/E/G ratio of 5.13 and a beta of 1.77. 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, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The business’s fifty day simple moving average is $116.50 and its 200-day simple moving average is $116.22.

Enphase Energy (NASDAQ:ENPHGet Free Report) last posted its earnings results 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 company had revenue of $263.34 million during the quarter, compared to analysts’ expectations 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 research analysts predict that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on ENPH shares. Royal Bank of Canada decreased their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Truist Financial decreased their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Roth Mkm reiterated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a report on Wednesday, April 24th. B. Riley increased their price target on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Mizuho dropped their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average target price of $134.10.

Get Our Latest Report on ENPH

Enphase Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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