New York State Teachers Retirement System Lowers Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

New York State Teachers Retirement System reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,390 shares of the semiconductor company’s stock after selling 8,905 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Enphase Energy worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prakash Investment Advisors LLC increased its stake in Enphase Energy by 75.7% in the 1st quarter. Prakash Investment Advisors LLC now owns 13,000 shares of the semiconductor company’s stock worth $807,000 after buying an additional 5,600 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Enphase Energy by 523.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,401 shares of the semiconductor company’s stock worth $4,205,000 after acquiring an additional 56,586 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Enphase Energy in the first quarter worth about $1,382,000. Oppenheimer & Co. Inc. grew its position in shares of Enphase Energy by 94.2% during the first quarter. Oppenheimer & Co. Inc. now owns 20,703 shares of the semiconductor company’s stock worth $1,285,000 after purchasing an additional 10,041 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Enphase Energy by 38.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,188 shares of the semiconductor company’s stock valued at $1,129,000 after purchasing an additional 5,070 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of ENPH stock opened at $42.48 on Friday. The stock has a 50 day moving average price of $43.00 and a 200 day moving average price of $55.32. Enphase Energy, Inc. has a 52-week low of $33.01 and a 52-week high of $130.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. The firm has a market capitalization of $5.57 billion, a P/E ratio of 39.33 and a beta of 1.67.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ENPH shares. Barclays lowered shares of Enphase Energy from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $90.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. TD Cowen decreased their price target on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $65.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, June 20th. Finally, Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the company a “sector perform” rating in a research report on Wednesday, June 18th. Twelve investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $65.44.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer directly owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by company insiders.

Enphase Energy Company 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.