Insider Selling: Enphase Energy (NASDAQ:ENPH) Director Sells $4,369,500.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman Rodgers sold 150,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the transaction, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $31.25 on Friday. The stock has a market cap of $4.09 billion, a PE ratio of 21.55 and a beta of 1.43. The stock has a 50-day moving average of $32.43 and a 200-day moving average of $36.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $78.26.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data 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 net margin of 12.93% and a return on equity of 25.67%. The firm had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ENPH shares. Wall Street Zen downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Mizuho cut Enphase Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $37.00 in a report on Thursday, October 23rd. Morgan Stanley decreased their price objective on Enphase Energy from $28.00 to $26.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Susquehanna set a $33.00 target price on shares of Enphase Energy in a report on Thursday, October 30th. Finally, Glj Research lifted their price target on shares of Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $39.90.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Invesco Ltd. lifted its position in shares of Enphase Energy by 28.1% in the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after purchasing an additional 1,479,153 shares in the last quarter. Federated Hermes Inc. increased its stake in Enphase Energy by 264.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after buying an additional 1,072,602 shares during the last quarter. Norges Bank bought a new stake in Enphase Energy during the 2nd quarter worth about $40,946,000. Assenagon Asset Management S.A. boosted its stake in shares of Enphase Energy by 827.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after buying an additional 1,028,259 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Enphase Energy by 2,322.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock valued at $34,772,000 after acquiring an additional 840,787 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company 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.