Cerity Partners LLC Has $650,000 Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Cerity Partners LLC lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,459 shares of the semiconductor company’s stock after selling 1,529 shares during the quarter. Cerity Partners LLC’s holdings in Enphase Energy were worth $650,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. grew its stake in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the period. Nordea Investment Management AB boosted its stake in Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after buying an additional 1,258,778 shares in the last quarter. Norges Bank bought a new stake in Enphase Energy in the fourth quarter valued at $46,339,000. Assenagon Asset Management S.A. raised its stake in Enphase Energy by 372.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after acquiring an additional 365,356 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Enphase Energy by 29.6% during the fourth quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company’s stock valued at $99,683,000 after acquiring an additional 331,917 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ENPH. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Piper Sandler reduced their price objective on Enphase Energy from $65.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays lowered their target price on Enphase Energy from $86.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $54.00 to $44.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $82.85.

Enphase Energy Price Performance

Shares of ENPH opened at $52.54 on Monday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 71.00 and a beta of 1.94. Enphase Energy, Inc. has a 1 year low of $47.48 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The business has a 50-day moving average of $59.33 and a 200-day moving average of $68.74.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.