Penserra Capital Management LLC Sells 315 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Penserra Capital Management LLC trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 33.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 628 shares of the semiconductor company’s stock after selling 315 shares during the quarter. Penserra Capital Management LLC’s holdings in Enphase Energy were worth $38,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ENPH. CX Institutional bought a new stake in shares of Enphase Energy in the first quarter worth about $29,000. First Horizon Advisors Inc. increased its holdings in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 258 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy in the fourth quarter worth about $47,000. GeoWealth Management LLC increased its holdings in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new stake in shares of Enphase Energy in the fourth quarter worth about $69,000. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets reissued an “underperform” rating and set a $39.00 price objective (down from $46.00) on shares of Enphase Energy in a research note on Tuesday, May 13th. Glj Research reduced their price objective on Enphase Energy from $50.69 to $31.11 and set a “sell” rating on the stock in a research note on Friday, April 25th. BNP Paribas Exane cut Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, May 13th. Barclays cut Enphase Energy from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $51.00 to $40.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler reduced their price objective on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $63.50.

Enphase Energy Stock Down 2.6%

Enphase Energy stock opened at $41.85 on Friday. The business has a fifty day moving average of $42.65 and a two-hundred day moving average of $54.31. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.49 billion, a P/E ratio of 38.75 and a beta of 1.67. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.