Mirova US LLC Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Mirova US LLC reduced its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 573,770 shares of the semiconductor company’s stock after selling 3,765 shares during the period. Enphase Energy accounts for 1.1% of Mirova US LLC’s portfolio, making the stock its 24th biggest position. Mirova US LLC’s holdings in Enphase Energy were worth $75,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Resurgent Financial Advisors LLC bought a new position in Enphase Energy during the fourth quarter worth $29,000. KB Financial Partners LLC bought a new position in Enphase Energy during the first quarter worth $28,000. Coppell Advisory Solutions Corp. bought a new position in Enphase Energy during the fourth quarter worth $42,000. First Capital Advisors Group LLC. bought a new position in Enphase Energy during the second quarter worth $28,000. Finally, Quarry LP lifted its stake in Enphase Energy by 416.7% during the first quarter. Quarry LP now owns 217 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 175 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 1.5 %

Shares of Enphase Energy stock traded up $1.71 during trading on Wednesday, hitting $112.18. 1,094,360 shares of the stock traded hands, compared to its average volume of 4,048,918. The stock has a market cap of $15.26 billion, a P/E ratio of 36.10, a PEG ratio of 3.12 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $231.42. The company has a fifty day moving average price of $120.44 and a two-hundred day moving average price of $112.19.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Equities research analysts predict that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. Barclays raised their price target on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Roth Mkm lowered their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $145.00 in a report on Tuesday, January 23rd. Finally, Mizuho raised their price target on Enphase Energy from $131.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $151.03.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

Enphase Energy 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.