Comerica Bank Trims Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Comerica Bank lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,834 shares of the semiconductor company's stock after selling 21,961 shares during the period. Comerica Bank's holdings in Enphase Energy were worth $1,088,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Enphase Energy by 6.2% during the 4th quarter. Czech National Bank now owns 29,294 shares of the semiconductor company's stock worth $2,012,000 after purchasing an additional 1,708 shares during the period. TT International Asset Management LTD purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $484,000. Eastern Bank boosted its position in shares of Enphase Energy by 29.7% during the 4th quarter. Eastern Bank now owns 12,225 shares of the semiconductor company's stock worth $840,000 after purchasing an additional 2,800 shares during the period. Leibman Financial Services Inc. boosted its position in shares of Enphase Energy by 58.6% during the 4th quarter. Leibman Financial Services Inc. now owns 29,169 shares of the semiconductor company's stock worth $2,003,000 after purchasing an additional 10,774 shares during the period. Finally, Signal Advisors Wealth LLC boosted its position in shares of Enphase Energy by 99.2% during the 4th quarter. Signal Advisors Wealth LLC now owns 19,988 shares of the semiconductor company's stock worth $1,373,000 after purchasing an additional 9,955 shares during the period. Hedge funds and other institutional investors own 72.12% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ENPH. Wells Fargo & Company decreased their price target on shares of Enphase Energy from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target for the company. in a research report on Tuesday, May 13th. Mizuho decreased their price target on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $54.00 price target (down previously from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Finally, TD Cowen decreased their price target on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $68.87.

Enphase Energy Price Performance

NASDAQ ENPH traded up $0.68 on Friday, hitting $50.40. 5,815,589 shares of the company were exchanged, compared to its average volume of 4,262,757. The firm has a 50 day moving average of $53.41 and a two-hundred day moving average of $62.41. The company has a market cap of $6.61 billion, a P/E ratio of 68.11 and a beta of 1.80. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 1-year low of $43.09 and a 1-year high of $141.63.

Insider Buying and Selling at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the firm'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 transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at $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 is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.

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.