Thurman J. Rodgers Sells 100,000 Shares of Enphase Energy, Inc. (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Enphase Energy Stock Up 5.0 %

ENPH stock traded up $2.91 during midday trading on Friday, hitting $61.63. The company’s stock had a trading volume of 6,451,559 shares, compared to its average volume of 4,397,771. The company’s fifty day moving average price is $64.66 and its 200 day moving average price is $82.11. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The stock has a market capitalization of $8.16 billion, a P/E ratio of 83.28 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Enphase Energy in the 3rd quarter valued at about $37,475,000. Mizuho Securities USA LLC increased its stake in shares of Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after purchasing an additional 31,008 shares during the period. Finally, Swedbank AB lifted its stake in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENPH. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a research note on Friday, January 31st. Bank of America cut their target price on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Redburn Atlantic started coverage on Enphase Energy in a research report on Monday. They set a “neutral” rating for the company. Susquehanna cut their price target on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Three equities research 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. According to MarketBeat, Enphase Energy 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.