Mandy Yang Sells 1,319 Shares of Enphase Energy, Inc. (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Enphase Energy Trading Down 3.9 %

Shares of Enphase Energy stock opened at $58.48 on Thursday. Enphase Energy, Inc. has a 52-week low of $51.63 and a 52-week high of $141.63. The stock’s 50-day simple moving average is $64.15 and its 200 day simple moving average is $80.39. The stock has a market capitalization of $7.75 billion, a P/E ratio of 79.03 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ENPH shares. Piper Sandler reduced their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Glj Research reaffirmed a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. TD Cowen reduced their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective for the company in a research report on Friday, January 31st. Finally, Redburn Atlantic assumed coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. 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. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $90.42.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENPH. Avior Wealth Management LLC grew its holdings in Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Enphase Energy during the 3rd quarter valued at about $34,000. Quarry LP purchased a new position in Enphase Energy during the 3rd quarter valued at about $37,000. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during 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 in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Enphase Energy during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.