Desjardins Global Asset Management Inc. Boosts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Desjardins Global Asset Management Inc. increased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 31.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 788 shares of the semiconductor company’s stock after buying an additional 189 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Enphase Energy were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ENPH. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the period. Norges Bank purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $325,230,000. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Clearbridge Investments LLC boosted its position in shares of Enphase Energy by 86.2% during the 1st quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after purchasing an additional 370,992 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Enphase Energy by 67.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock valued at $185,938,000 after buying an additional 356,495 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on shares of Enphase Energy in a research report on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target for the company. DZ Bank initiated coverage on shares of Enphase Energy in a research report on Wednesday. They issued a “hold” rating and a $116.00 price target for the company. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $149.88.

Enphase Energy Trading Down 2.5 %

Shares of Enphase Energy stock opened at $106.48 on Friday. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $228.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The company has a market capitalization of $14.48 billion, a P/E ratio of 34.80, a PEG ratio of 3.10 and a beta of 1.47. The company’s fifty day moving average is $119.85 and its two-hundred day moving average is $112.10.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Analysts forecast that Enphase Energy, Inc. will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. Insiders own 3.40% of the company’s stock.

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.