KBC Group NV reduced its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 77.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,531 shares of the semiconductor company's stock after selling 396,327 shares during the quarter. KBC Group NV owned about 0.08% of Enphase Energy worth $15,266,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Enphase Energy during the 4th quarter valued at about $206,000. Legato Capital Management LLC purchased a new position in Enphase Energy during the fourth quarter valued at approximately $1,542,000. Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company's stock worth $29,525,000 after acquiring an additional 173,628 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Enphase Energy in the 4th quarter worth approximately $566,000. Finally, Glenmede Trust Co. NA boosted its holdings in Enphase Energy by 92.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company's stock valued at $380,000 after purchasing an additional 1,521 shares during the period. 72.12% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of Enphase Energy from a "buy" rating to a "hold" rating and decreased their price target for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. Roth Mkm reiterated a "buy" rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, April 24th. StockNews.com cut shares of Enphase Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, February 7th. B. Riley increased 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, Piper Sandler reissued a "neutral" rating and issued a $111.00 target price (down previously from $113.00) on shares of Enphase Energy in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and a consensus price target of $134.10.
Read Our Latest Stock Analysis on Enphase Energy
Enphase Energy Stock Up 1.7 %
Enphase Energy stock traded up $2.22 during mid-day trading on Tuesday, reaching $129.77. 2,960,777 shares of the company were exchanged, compared to its average volume of 4,139,762. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The business has a fifty day moving average of $115.83 and a 200 day moving average of $115.84. The firm has a market cap of $17.66 billion, a P/E ratio of 67.59, a PEG ratio of 4.92 and a beta of 1.77. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.17). Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $263.34 million for the quarter, compared to analysts' expectations of $280.06 million. Research analysts anticipate that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Thurman J. Rodgers sold 319,526 shares of the business'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 transaction of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 319,526 shares of the firm's stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company's stock, valued at approximately $251,106,629.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,526 shares of company stock worth $43,649,325. Corporate insiders own 3.40% of the company's stock.
Enphase Energy 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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