Wealth Enhancement Advisory Services LLC Sells 644 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Wealth Enhancement Advisory Services LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 9.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,467 shares of the semiconductor company’s stock after selling 644 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enphase Energy were worth $444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after purchasing an additional 44,782 shares during the period. Baillie Gifford & Co. grew its position in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after purchasing an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company’s stock worth $114,614,000 after buying an additional 484,497 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 1.3%

NASDAQ:ENPH opened at $44.69 on Friday. The stock has a market cap of $5.86 billion, a PE ratio of 60.39 and a beta of 1.70. 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 stock’s 50-day moving average is $46.59 and its two-hundred day moving average is $59.07. Enphase Energy, Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $134.99.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lowered shares of Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 price objective for the company. in a report on Wednesday, April 23rd. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Barclays cut Enphase Energy from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $51.00 to $40.00 in a research note on Tuesday, May 13th. BNP Paribas downgraded Enphase Energy from an “outperform” rating to an “underperform” rating in a research note on Tuesday, May 13th. Finally, TD Cowen dropped their price target on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Eleven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.31.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

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.