334,620 Shares in Enphase Energy, Inc. $ENPH Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 334,620 shares of the semiconductor company’s stock, valued at approximately $16,477,000. Freestone Grove Partners LP owned about 0.25% of Enphase Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENPH. Woodline Partners LP raised its stake in shares of Enphase Energy by 37.9% in the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 3,077 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Enphase Energy during the 1st quarter valued at $121,000. Arrowstreet Capital Limited Partnership acquired a new stake in Enphase Energy during the 2nd quarter valued at $1,299,000. Guggenheim Capital LLC raised its position in Enphase Energy by 14.1% in the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after purchasing an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Enphase Energy by 11.9% in the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after purchasing an additional 25,450 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several research analyst reports. Oppenheimer decreased their target price on Enphase Energy from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley set a $27.00 price target on shares of Enphase Energy in a research report on Friday, May 8th. The Goldman Sachs Group raised their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Evercore reaffirmed a “positive” rating and issued a $41.00 target price on shares of Enphase Energy in a research note on Monday, August 17th. Finally, Citigroup reduced their target price on shares of Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.79.

Enphase Energy Price Performance

ENPH opened at $39.25 on Friday. The company has a fifty day moving average price of $41.81 and a two-hundred day moving average price of $43.86. The firm has a market capitalization of $5.19 billion, a PE ratio of 39.25 and a beta of 1.64. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. During the same period last year, the company earned $0.69 EPS. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, analysts anticipate that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director directly owned 10,422 shares of the company’s stock, valued at $420,631.92. This represents a 12.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 4,200 shares of company stock valued at $179,000 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.