Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,289 shares of the semiconductor company's stock after selling 10,274 shares during the period. Baird Financial Group Inc. owned 0.09% of Enphase Energy worth $8,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Invesco Ltd. grew its position in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Norges Bank acquired a new stake in Enphase Energy in the 4th quarter worth $46,339,000. Alyeska Investment Group L.P. lifted its holdings in shares of Enphase Energy by 62.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock worth $92,652,000 after acquiring an additional 517,989 shares during the period. Finally, Northern Trust Corp lifted its holdings in Enphase Energy by 40.9% during the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Price Performance

ENPH traded down $2.84 on Monday, reaching $47.94. The company had a trading volume of 14,859,619 shares, compared to its average volume of 4,153,323. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 64.78 and a beta of 1.80. Enphase Energy, Inc. has a 52-week low of $43.09 and a 52-week high of $141.63. The business has a 50 day simple moving average of $54.63 and a 200 day simple moving average of $63.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ENPH shares. Redburn Atlantic started coverage on shares of Enphase Energy in a report on Monday, March 3rd. They set a "neutral" rating for the company. BMO Capital Markets cut their price target on shares of Enphase Energy from $59.00 to $46.00 and set a "market perform" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group cut their price target on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a report on Wednesday, April 23rd. Mizuho dropped their target price on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup reaffirmed a "sell" rating and issued a $47.00 target price on shares of Enphase Energy in a research note on Thursday, April 17th. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $70.54.

About Enphase Energy

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.