Enphase Energy, Inc. (NASDAQ:ENPH) Director Sells $6,126,000.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were 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 directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enphase Energy Stock Up 5.0 %

Shares of NASDAQ:ENPH opened at $61.63 on Monday. The company has a 50 day moving average of $64.45 and a 200-day moving average of $81.20. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB raised its position in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Enphase Energy by 19.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after purchasing an additional 1,156 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Enphase Energy by 19.1% during the third quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 174 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Enphase Energy by 3.3% during the third quarter. Van ECK Associates Corp now owns 87,532 shares of the semiconductor company’s stock worth $9,893,000 after purchasing an additional 2,789 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Enphase Energy by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company’s stock valued at $6,206,000 after buying an additional 190 shares during the period. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. TD Cowen lowered their price target on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Piper Sandler reduced their target price on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Northland Securities dropped their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $90.42.

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.