Ensign Peak Advisors Inc Acquires 178,831 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Ensign Peak Advisors Inc grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 345.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,589 shares of the semiconductor company's stock after purchasing an additional 178,831 shares during the period. Ensign Peak Advisors Inc owned about 0.17% of Enphase Energy worth $15,837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after buying an additional 44,782 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after acquiring an additional 2,028,691 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after purchasing an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Finally, Northern Trust Corp raised its position in Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after purchasing an additional 484,497 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENPH has been the subject of several analyst reports. Morgan Stanley cut shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target for the company. in a research report on Wednesday, April 23rd. Craig Hallum cut their price target on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. Susquehanna reduced their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler dropped their target price on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Oppenheimer set a $84.00 target price on shares of Enphase Energy and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of "Hold" and a consensus price target of $68.87.

Enphase Energy Stock Up 3.0%

ENPH stock traded up $1.45 during midday trading on Thursday, hitting $49.72. The company's stock had a trading volume of 6,071,790 shares, compared to its average volume of 4,239,219. The company has a market cap of $6.52 billion, a PE ratio of 67.19 and a beta of 1.80. The firm's 50-day moving average is $53.89 and its 200-day moving average is $63.16. Enphase Energy, Inc. has a 12 month low of $43.09 and a 12 month high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

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.