CIBC Private Wealth Group LLC Has $222,000 Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

CIBC Private Wealth Group LLC reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,183 shares of the semiconductor company’s stock after selling 2,121 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Enphase Energy were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ENPH. Quarry LP acquired a new position in Enphase Energy during the third quarter valued at approximately $37,000. Venturi Wealth Management LLC grew its holdings in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 509 shares during the period. Sava Infond d.o.o. acquired a new position in shares of Enphase Energy in the 4th quarter valued at $69,000. Avior Wealth Management LLC increased its position in shares of Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 762 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Enphase Energy during the 4th quarter worth $96,000. 72.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several recent analyst reports. Susquehanna lowered their price target on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price for the company in a report on Friday, January 31st. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Finally, Oppenheimer lifted their price objective on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.79.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $57.27 on Monday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $7.59 billion, a PE ratio of 77.39 and a beta of 1.94. The firm has a 50 day moving average of $62.00 and a 200-day moving average of $73.58. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63.

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

Insider Activity

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction 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 trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Enphase Energy 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.