Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Cibc World Markets Corp (2024)

Cibc World Markets Corp cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 87.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,572 shares of the semiconductor company’s stock after selling 124,641 shares during the period. Cibc World Markets Corp’s holdings in Enphase Energy were worth $2,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENPH. GAMMA Investing LLC acquired a new position in Enphase Energy during the 4th quarter valued at about $206,000. Legato Capital Management LLC acquired a new position in Enphase Energy during the 4th quarter valued at approximately $1,542,000. Assenagon Asset Management S.A. raised its holdings in shares of Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Enphase Energy during the fourth quarter worth $566,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after buying an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was 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 of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the transaction, the director now directly owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 349,526 shares of company stock valued at $43,649,325 over the last ninety days. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lowered Enphase Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $111.00 in a research note on Wednesday, April 24th. 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 report on Wednesday, April 24th. BMO Capital Markets dropped their target price on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. B. Riley raised their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $115.00 to $134.00 in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.10.

Read Our Latest Stock Report on ENPH

Enphase Energy Stock Down 7.2 %

Shares of NASDAQ ENPH opened at $122.75 on Monday. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $192.22. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company’s 50-day simple moving average is $116.77 and its 200-day simple moving average is $116.62. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 63.93, a price-to-earnings-growth ratio of 4.72 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data 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 return on equity of 31.89% and a net margin of 15.10%. The firm had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. Equities analysts predict that Enphase Energy, Inc. will post 1.53 EPS for the current fiscal year.

Enphase Energy Company Profile

(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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