Amalgamated Bank Reduces Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Amalgamated Bank trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,665 shares of the semiconductor company’s stock after selling 2,114 shares during the quarter. Amalgamated Bank’s holdings in Enphase Energy were worth $4,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENPH. CVA Family Office LLC purchased a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its stake in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares during the period. Covestor Ltd boosted its stake in shares of Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Enphase Energy by 194.6% during the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $114.93 on Wednesday. The business’s fifty day simple moving average is $116.02 and its 200-day simple moving average is $111.17. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The firm has a market cap of $15.64 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 4.08 and a beta of 1.50. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $192.22.

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

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang purchased 4,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the acquisition, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the transaction, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 54,285 shares of company stock worth $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ENPH shares. Susquehanna reissued a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. B. Riley boosted their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Canaccord Genuity Group assumed coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target for the company. Canaccord Genuity Group decreased their target price on Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, Barclays upgraded 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 report on Friday, April 26th. Three equities research 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.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $133.45.

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.