Insider Selling: Enphase Energy, Inc. (NASDAQ:ENPH) Director Sells 100,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $61.63 on Monday. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The stock has a 50 day moving average of $64.45 and a 200-day moving average of $81.20. 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 has a market capitalization of $8.16 billion, a P/E ratio of 83.28 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the business. Avior Wealth Management LLC raised its position in shares of Enphase Energy by 6,975.0% in the third 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 bought a new stake in shares of Enphase Energy during the 3rd quarter worth $34,000. Quarry LP bought a new position in shares of Enphase Energy in the third quarter worth about $37,000. Venturi Wealth Management LLC lifted its stake in 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 purchasing an additional 509 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy in the 4th quarter valued at $47,000. Institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ENPH shares. Truist Financial restated a “hold” rating and set a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. BMO Capital Markets dropped their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reduced their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. TD Cowen decreased their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their target price on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Company 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.