Assenagon Asset Management S.A. Sells 1,019,896 Shares of Enphase Energy, Inc. $ENPH

Assenagon Asset Management S.A. lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 88.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,650 shares of the semiconductor company’s stock after selling 1,019,896 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of Enphase Energy worth $4,694,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 514 shares during the period. SVB Wealth LLC acquired a new position in Enphase Energy in the first quarter valued at about $38,000. Brooklyn Investment Group increased its holdings in shares of Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 368 shares in the last quarter. CX Institutional raised its position in shares of Enphase Energy by 135.4% during the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 623 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in shares of Enphase Energy by 24,040.0% during the 2nd quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 1,202 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mandy Yang sold 6,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the transaction, the executive vice president directly owned 68,987 shares of the company’s stock, valued at approximately $2,277,260.87. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the transaction, the director owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of a number of research reports. Loop Capital set a $31.00 target price on Enphase Energy in a research note on Thursday, October 30th. Morgan Stanley reduced their price target on shares of Enphase Energy from $28.00 to $26.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Evercore ISI set a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, October 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $41.00 target price on shares of Enphase Energy in a research note on Monday, September 29th. Finally, Zacks Research cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and thirteen have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $39.75.

Enphase Energy Trading Up 0.9%

Shares of NASDAQ:ENPH opened at $33.25 on Monday. The company’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $35.63. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $76.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. The stock has a market capitalization of $4.35 billion, a PE ratio of 22.93 and a beta of 1.43.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The business had revenue of $410.43 million for the quarter, compared to the consensus estimate of $364.64 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. Enphase Energy’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.