Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,094 shares of the semiconductor company’s stock after selling 737 shares during the quarter. Retirement Systems of Alabama’s holdings in Enphase Energy were worth $3,977,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the period. Nordea Investment Management AB grew its holdings in Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after buying an additional 501,385 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Enphase Energy by 164.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 355,816 shares of the semiconductor company’s stock valued at $42,751,000 after acquiring an additional 221,281 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Enphase Energy by 39.5% during the 4th quarter. DNB Asset Management AS now owns 627,983 shares of the semiconductor company’s stock worth $82,982,000 after acquiring an additional 177,686 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Enphase Energy by 348.6% in the fourth 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 last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENPH. Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $115.00 to $134.00 in a research note on Friday, April 26th. Piper Sandler reiterated a “neutral” rating and issued a $111.00 target price (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Mizuho dropped their price target on Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Truist Financial cut their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada dropped their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $133.45.

Enphase Energy Stock Performance

Shares of ENPH opened at $115.08 on Tuesday. 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, Inc. has a 1 year low of $73.49 and a 1 year high of $192.22. The firm has a fifty day moving average of $116.14 and a 200-day moving average of $111.06. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 59.94, a price-to-earnings-growth ratio of 4.08 and a beta of 1.50.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 1.59 earnings per share for the current year.

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.