Norden Group LLC Buys Shares of 1,728 Enphase Energy, Inc. (NASDAQ:ENPH)

Norden Group LLC purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,728 shares of the semiconductor company’s stock, valued at approximately $209,000.

Several other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after buying an additional 4,078,723 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy during the 4th quarter valued at $149,425,000. Nordea Investment Management AB raised its position in shares of Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after buying an additional 501,385 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Enphase Energy during the fourth quarter worth about $41,068,000. Finally, Panagora Asset Management Inc. increased its stake in Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after acquiring an additional 255,175 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ENPH shares. DZ Bank assumed coverage on shares of Enphase Energy in a report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price target on the stock. Craig Hallum reduced their target price on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets dropped their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Truist Financial reduced their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Finally, B. Riley raised their target price on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $130.35.

Insider Buying and Selling at Enphase Energy

In other news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 344,526 shares of company stock valued at $43,139,775. 3.40% of the stock is currently owned by corporate insiders.

Enphase Energy Price Performance

ENPH opened at $119.34 on Monday. The stock has a market cap of $16.24 billion, a P/E ratio of 62.16, a P/E/G ratio of 4.91 and a beta of 1.71. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $192.22. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $115.72 and a 200 day simple moving average of $116.16.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The business had revenue of $263.34 million during the quarter, compared to the consensus estimate of $280.06 million. On average, research analysts expect that Enphase Energy, Inc. will post 1.43 EPS for the current year.

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.