Cresset Asset Management LLC Decreases Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Cresset Asset Management LLC lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 61.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,580 shares of the semiconductor company's stock after selling 7,420 shares during the quarter. Cresset Asset Management LLC's holdings in Enphase Energy were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC grew its position in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $47,000. GeoWealth Management LLC lifted its holdings in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares during the last quarter. Sava Infond d.o.o. acquired a new position in Enphase Energy in the fourth quarter valued at about $69,000. Finally, Avior Wealth Management LLC grew its stake in Enphase Energy by 269.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company's stock worth $72,000 after buying an additional 762 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. The trade was 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 corporate insiders.

Enphase Energy Trading Down 3.2%

NASDAQ ENPH traded down $1.62 on Monday, hitting $48.78. 5,501,490 shares of the stock were exchanged, compared to its average volume of 4,267,791. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 52-week low of $43.09 and a 52-week high of $141.63. The firm has a market capitalization of $6.40 billion, a P/E ratio of 65.92 and a beta of 1.80. The stock has a fifty day moving average price of $53.21 and a two-hundred day moving average price of $62.17.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Cowen lowered their price target on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Susquehanna lowered their target price on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group cut their price target on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.87.

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.