Enphase Energy, Inc. (NASDAQ:ENPH) Stake Decreased by TAP Consulting LLC

TAP Consulting LLC lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,939 shares of the semiconductor company’s stock after selling 287 shares during the period. TAP Consulting LLC’s holdings in Enphase Energy were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. raised its holdings in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Swedbank AB raised its holdings in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares in the last quarter. Geode Capital Management LLC raised its holdings in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ENPH. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a report on Friday, January 31st. 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 report on Wednesday, February 5th. Glj Research reaffirmed a “sell” rating and issued a $50.69 price target on shares of Enphase Energy in a report on Tuesday, February 4th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their price target on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.42.

Enphase Energy Trading Down 1.0 %

Enphase Energy stock opened at $61.69 on Friday. The company’s fifty day simple moving average is $62.70 and its 200-day simple moving average is $77.97. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The stock has a market cap of $8.17 billion, a P/E ratio of 83.37 and a beta of 2.12.

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

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

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.