Connectus Wealth LLC cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 48.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,025 shares of the semiconductor company's stock after selling 15,811 shares during the quarter. Connectus Wealth LLC's holdings in Enphase Energy were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other institutional investors also recently bought and sold shares of the stock. Bogart Wealth LLC bought a new position in Enphase Energy during the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new position in Enphase Energy during the 4th quarter valued at approximately $31,000. Parkside Financial Bank & Trust raised its position in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Covestor Ltd raised its position in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 133 shares during the last quarter. Finally, Addison Advisors LLC raised its position in Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Enphase Energy
In related news, EVP David A. Ranhoff sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares of the company's stock, valued at $13,948,752.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Thurman J. Rodgers sold 319,526 shares of the company's stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the transaction, the director now directly owns 1,984,562 shares of the company's stock, valued at $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,526 shares of company stock worth $43,649,325. Company insiders own 3.40% of the company's stock.
Enphase Energy Trading Down 7.2 %
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ENPH opened at $122.75 on Monday. The firm has a market cap of $16.70 billion, a P/E ratio of 63.93, a P/E/G ratio of 4.72 and a beta of 1.77. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $192.22. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $116.77 and a 200 day moving average of $116.74.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $263.34 million for the quarter, compared to analysts' expectations of $280.06 million. As a group, research analysts forecast that Enphase Energy, Inc. will post 1.53 EPS for the current year.
Analyst Ratings Changes
Several research analysts have recently issued reports on ENPH shares. Mizuho decreased their target price on Enphase Energy from $150.00 to $148.00 and set a "buy" rating for the company in a research report on Friday, April 19th. Wells Fargo & Company decreased their target price on Enphase Energy from $141.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, April 24th. Truist Financial reduced their price objective on Enphase Energy from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 23rd. B. Riley raised their price objective on Enphase Energy from $121.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Finally, Craig Hallum reduced their price objective on Enphase Energy from $159.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $136.68.
Get Our Latest Report on Enphase Energy
About Enphase Energy
(Free Report)
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.
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