Nisa Investment Advisors LLC Acquires 6,449 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Nisa Investment Advisors LLC increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 93.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,330 shares of the semiconductor company’s stock after acquiring an additional 6,449 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Enphase Energy were worth $827,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ENPH. 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. Worldquant Millennium Advisors LLC boosted its position in Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after buying an additional 678,163 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the 4th quarter worth approximately $46,339,000. Alyeska Investment Group L.P. boosted its position in Enphase Energy by 62.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company’s stock worth $92,652,000 after buying an additional 517,989 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Enphase Energy by 10,270.1% in the 1st quarter. GAMMA Investing LLC now owns 512,285 shares of the semiconductor company’s stock worth $31,787,000 after purchasing an additional 507,345 shares during the period. 72.12% of the stock is owned by institutional investors.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $46.35 per share, with a total value 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 $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Enphase Energy from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. KeyCorp restated an “underweight” rating and set a $31.00 price target on shares of Enphase Energy in a research note on Tuesday, June 17th. BNP Paribas Exane lowered shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 target price for the company. in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group reduced their target price on shares of Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research note on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.20.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $40.25 on Wednesday. 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 fifty day moving average price of $42.52 and a 200 day moving average price of $53.87. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 37.27 and a beta of 1.67.

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.