NewEdge Advisors LLC Has $379,000 Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

NewEdge Advisors LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 38.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,513 shares of the semiconductor company’s stock after selling 3,410 shares during the period. NewEdge Advisors LLC’s holdings in Enphase Energy were worth $379,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in shares of Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy in the 4th quarter valued at $47,000. Sava Infond d.o.o. acquired a new position in Enphase Energy in the 4th quarter valued at $69,000. Avior Wealth Management LLC grew its holdings in 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 position in Enphase Energy in the 4th quarter valued at $96,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Enphase Energy Stock Performance

ENPH opened at $47.71 on Wednesday. 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 company’s fifty day moving average price is $57.07 and its two-hundred day moving average price is $66.29. Enphase Energy, Inc. has a 1-year low of $44.83 and a 1-year high of $141.63. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 64.47 and a beta of 1.94.

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, 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, analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several analyst reports. Redburn Atlantic initiated coverage on Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Citigroup reissued a “sell” rating and set a $47.00 target price on shares of Enphase Energy in a report on Thursday, April 17th. The Goldman Sachs Group reduced their target price on Enphase Energy from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley lowered Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 target price on the stock. in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group dropped their price objective on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.54.

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.