Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,971 shares of the semiconductor company’s stock after selling 6,813 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.21% of Enphase Energy worth $28,016,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares during the last quarter. Baillie Gifford & Co. raised its stake in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the last quarter. Swedbank AB purchased a new position in Enphase Energy in the 1st quarter valued at about $424,130,000. Northern Trust Corp boosted its stake in shares of Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 1.4 %

NASDAQ:ENPH opened at $106.79 on Friday. The stock has a 50-day simple moving average of $113.57 and a 200 day simple moving average of $114.12. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s quarterly revenue was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. Sell-side analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Glj Research started coverage on Enphase Energy in a report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Piper Sandler upped their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America reduced their target price on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Susquehanna lifted their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $127.27.

Enphase Energy 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.