Xponance Inc. Sells 688 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Xponance Inc. lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,112 shares of the semiconductor company’s stock after selling 688 shares during the period. Xponance Inc.’s holdings in Enphase Energy were worth $2,274,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Avior Wealth Management LLC raised its position in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Enphase Energy in the 3rd quarter valued at about $34,000. Quarry LP acquired a new stake in Enphase Energy in the 3rd quarter valued at about $37,000. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares during the period. Finally, Brooklyn Investment Group bought a new position in Enphase Energy during the third quarter worth about $55,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Down 0.2 %

Shares of ENPH opened at $61.54 on Friday. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 83.16 and a beta of 2.12. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The stock has a fifty day moving average of $62.60 and a 200-day moving average of $77.56.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENPH. Wells Fargo & Company cut their target price on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley reduced their price objective on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Royal Bank of Canada reduced their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Finally, Glj Research reiterated a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target 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.