Corient Private Wealth LLC Decreases Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Corient Private Wealth LLC cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,275 shares of the semiconductor company’s stock after selling 1,709 shares during the quarter. Corient Private Wealth LLC’s holdings in Enphase Energy were worth $637,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Pathstone Holdings LLC boosted its holdings in shares of Enphase Energy by 10.3% in the third quarter. Pathstone Holdings LLC now owns 12,405 shares of the semiconductor company’s stock valued at $1,402,000 after purchasing an additional 1,162 shares during the period. Cerity Partners LLC increased its position in shares of Enphase Energy by 102.6% in the 3rd quarter. Cerity Partners LLC now owns 10,988 shares of the semiconductor company’s stock valued at $1,242,000 after acquiring an additional 5,565 shares during the period. FMR LLC increased its holdings in Enphase Energy by 5.7% in the 3rd quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company’s stock worth $117,168,000 after buying an additional 56,136 shares during the period. Brooklyn Investment Group acquired a new stake in Enphase Energy during the 3rd quarter worth about $55,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Enphase Energy Stock Performance

Shares of ENPH opened at $61.65 on Friday. The company’s 50 day simple moving average is $62.24 and its 200 day simple moving average is $75.88. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 83.31 and a beta of 2.12. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ENPH shares. Piper Sandler cut their price target on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Citigroup lowered shares of Enphase Energy from a “neutral” rating to a “negative” rating in a report on Wednesday. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Barclays cut their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Glj Research reissued a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.36.

About Enphase Energy

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.