Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 47.8% in the 1st quarter, Holdings Channel reports. The firm owned 9,556 shares of the semiconductor company’s stock after purchasing an additional 3,089 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enphase Energy were worth $593,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Enphase Energy by 531.4% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after acquiring an additional 678,163 shares in the last quarter. Norges Bank acquired a new position in shares of Enphase Energy in the fourth quarter worth $46,339,000. Alyeska Investment Group L.P. grew its stake in shares of Enphase Energy by 62.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company’s stock worth $92,652,000 after acquiring an additional 517,989 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Enphase Energy by 10,270.1% in the first quarter. GAMMA Investing LLC now owns 512,285 shares of the semiconductor company’s stock worth $31,787,000 after acquiring an additional 507,345 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Up 3.7%

NASDAQ ENPH opened at $42.48 on Friday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 39.33 and a beta of 1.67. Enphase Energy, Inc. has a 52-week low of $33.01 and a 52-week high of $130.08. The firm has a 50-day moving average price of $43.00 and a 200 day moving average price of $55.41. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer directly owned 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of several research reports. Glj Research dropped their price target on shares of Enphase Energy from $50.69 to $31.11 and set a “sell” rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada set a $28.00 price objective on shares of Enphase Energy and gave the stock a “sector perform” rating in a research report on Wednesday, June 18th. BNP Paribas cut shares of Enphase Energy from an “outperform” rating to an “underperform” rating in a research report on Tuesday, May 13th. BNP Paribas Exane cut shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price target for the company. in a research report on Tuesday, May 13th. Finally, Piper Sandler reduced their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.44.

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.