Enphase Energy, Inc. (NASDAQ:ENPH) Stake Cut by Gotham Asset Management LLC

Gotham Asset Management LLC cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 42.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,540 shares of the semiconductor company’s stock after selling 2,563 shares during the period. Gotham Asset Management LLC’s holdings in Enphase Energy were worth $243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Granahan Investment Management LLC grew its holdings in Enphase Energy by 25.7% in the 4th quarter. Granahan Investment Management LLC now owns 2,930 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 599 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in Enphase Energy by 345.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 230,589 shares of the semiconductor company’s stock valued at $15,837,000 after buying an additional 178,831 shares in the last quarter. Deutsche Bank AG boosted its stake in Enphase Energy by 35.5% in the 4th quarter. Deutsche Bank AG now owns 879,921 shares of the semiconductor company’s stock valued at $60,433,000 after buying an additional 230,674 shares in the last quarter. Element Pointe Advisors LLC raised its position in Enphase Energy by 16.4% in the 4th quarter. Element Pointe Advisors LLC now owns 4,394 shares of the semiconductor company’s stock valued at $302,000 after purchasing an additional 620 shares during the last quarter. Finally, CoreCommodity Management LLC raised its position in Enphase Energy by 97.2% in the 4th quarter. CoreCommodity Management LLC now owns 7,550 shares of the semiconductor company’s stock valued at $519,000 after purchasing an additional 3,722 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENPH has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on Enphase Energy from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Piper Sandler decreased their target price on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer set a $84.00 price objective on Enphase Energy and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Jefferies Financial Group reduced their price objective on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays lowered Enphase Energy from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $51.00 to $40.00 in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.87.

Enphase Energy Trading Up 0.5%

Shares of NASDAQ:ENPH opened at $49.04 on Wednesday. The business’s 50 day simple moving average is $53.03 and its 200 day simple moving average is $62.08. The company has a market capitalization of $6.43 billion, a P/E ratio of 66.27 and a beta of 1.80. Enphase Energy, Inc. has a 1 year low of $43.09 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.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now directly owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

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.